Renta Corporación invests €40M in 3 office buildings

Renta Corporación invests €40M in 3 office buildings

Amongst the assets to be intervened is building La Campana, located at the Gran Via in Barcelona, of which the group acquired 50% last Fall, corresponding to 10.900 sqm. This asset alone represents more than half of the expected investment – 22 million euro, advanced newspaper Expansión.

One of the company’s goals is to convert a former car park located in Barcelona’s Eixample district with a 10 million euro investment. The remaining amount will be invested in the development of a corporate building located at district @22 also in Barcelona. 

This strategy is part of the company’s trading business line which involves the purchase, rehabilitation and sale of assets within 12 months, as mentioned during the presentation of the results concerning 2019.

The number of assets on the company’s portfolio increased 57.8% yoy – reaching last December 211.3 million euro – which, according to a release issued by the company, «anticipates a remarkable activity potential for the 2020 exercise».

This year, the company expects to sell several assets acquired last year which remain within its portfolio to be converted and thus add value. These assets include two office buildings located at Gran Vía de les Corts Catalanes and Vía Augusta and three residential buildings located at Calles Monterols, Nàpols and Francesc de Bolós, in Barcelona. It also includes three housing projects known as Palencia, Embajadores and Corazón de María in Madrid.

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