Parc Cugat, an office building located in Sant Cugat del Vallès (Barcelona), until now owned by Colonial, has been bought by Tikehau Capital through its REIT Global participated vehicle. Cuatrecasas, Hill International and Hogan Lovells have advised the buyer, while Roca Junyent and Cushman & Wakefield have been the seller's advisers.
The sale of the asset has been agreed at 27.2 million euros. The building consists of 12,000 sqm of offices, an auditorium with a capacity for 200 people and more than 400 seats between cars and motorcycles. The property currently has different tenants.
“This operation is a clear example of the health of the office investment market in Barcelona, which in the first three quarters of 2021 has already reached 1,400 million euros, representing more than 75% of the total investment volume in offices throughout Spain, ”says Eusebi Carles, partner in the capital markets area of Cushman & Wakefield.
"The sale of Parc Cugat, at the same time, highlights the interest in Barcelona, not only of Core groups, very active until now, but also of another range of investments such as Core + and Value Add capital managers", he adds .