Colonial SFL has completed the purchase of the entire Puig-T2 Tower building located at number 34 Plaza Europa in L’Hospitalet de Llobregat, Barcelona, which was previously owned in equal shares by the listed property company itself and the Puig family.
The Puig family and Colonial joined forces in 2017 to develop a 20-storey tower with over 13,440 sqm of lettable space on land owned by the family, with an estimated investment in the project of €32 million.
Now, after almost ten years as partners, the Socimi led by Pere Viñolas has decided to activate the clause allowing it to purchase the 50% stake held by the Puig family.
Colonial SFL will pay €15.2 million for half the shares in the subsidiary (Inmocol Torre Europa S.A.) that owns the office tower, which is currently fully occupied, sources close to the transaction confirm. The listed company’s annual report valued the asset at €53.32 million.
The tower’s sole tenant is Puig itself, which has occupied the entire space since the end of the first quarter of 2023, when the refurbishment works were completed. The perfume and cosmetics firm has signed a binding ten-year lease, according to information released by Colonial at the time. The complex also houses the offices of Exea, the family’s investment arm.
