The news is reported by Spanish newspaper Expansión in its print edition, and it further informs that the deal may be closed in the coming weeks.
The business park is located in the Spanish capital at number 1 Calle Campezo. It has 9 office buildings – which have a combined area of 79.000 sqm – and 1.650 parking spots. Currently the park is mostly leased – around 84%, according to the same newspaper – to several companies, such as Altran, Xerox and Enaire.
This will be the third operation of this type that American Starwood closes this year in Spain. The last one was the Heritage portfolio, which includes 5 office buildings and which was purchased from American Oaktree for 153 million euro. Also, at the beginning of the year, Starwood closed the purchase of a 5 office portfolio for which it paid 125 million euro to REIT Autonomy Spain Real Estate.