The space is currently leased to brand Sfera and has a 2.427 sqm built area, which is spread across 4 floors, according to newspaper Expansión in its print edition.
This operation – which allows the fund to follow its asset rotation strategy – was advised by consultants Cushman&Wakefield and Savills Aguirre Newman. The building was acquired in 2015 for 70 million euro from El Corte Inglés.
Patrizia’s plans include seeking office, housing and logistic investment opportunities not only in Spain, but also in Portugal. The fund announced it expects to spend between 300 and 500 million euro on this type of acquisitions next year and to keep this pace of investment until 2022.