The building, located at number 123 Vía Augusta Street, has been the headquarters of the Foundation of the Institute of North American Studies for more than 50 years. But, currently, it is in the process of rehabilitation by Renta Corporación; Some works that are expected to be completed in the last quarter of 2022.
Work of the architect José María Bosch Aymerich, the rehabilitation will respect the original design of the facade due to its uniqueness and will be executed with the highest and modern construction and energy efficiency standards, to obtain the LEED Silver seal, which certifies energy efficiency and lower environmental impact of the property, which will have 9 floors dedicated to office use and a total leasable area of 3,902 sqm and 781 sqm of terraces.
According to Javier Hortelano, managing director & partner of Catella AM Iberia, "the office market is one of our strategic priorities and with this operation we contribute a great asset that strengthens and repositiones our portfolio in this market segment, one of the most active in the world. sector in the coming years. "
In recent months, the company has completed several operations in the Iberian Peninsula. In line with its investment strategy in the area, this year it completed another five transactions: four in the residential segment (rental properties in Seville, Madrid and Pamplona) and the fifth was the acquisition of a student residence in Seville.
As Eduardo Guardiola, director and partner of Catella AM Iberia explains, "we are working on new transactions and we maintain our focus on residential, office, logistics and alternative assets. Spain is a very attractive market for funds advised by Catella and, despite In the current environment, there are still investment opportunities with a very attractive risk / return ratio. "
In this operation, CMS, Hogan Lovells and Mace have been Catella's legal, tax and technical advisers, while Renta Corporación has been advised by the real estate consultancy Savills Aguirre Newman.