Starwood finalizes the purchase of Diagonal 177 from Hines for €120M

Starwood finalizes the purchase of Diagonal 177 from Hines for €120M

Hines finalizes the sale of the Mediapro headquarters. The US fund is closing the last fringes to give the green light to the transaction for 120 million euros to Starwood of the office asset located at number 177 of Avenida Diagonal in Barcelona, ​​in the 22@ technology district, according to Ok Diario .

In July 2018, Hines completed the €90 million purchase of the Imagina building, located at 177 Avinguda Diagonal in the Catalan capital. The complex, with more than 50,000 square meters spread over two buildings, was owned by the company Mediacomplex, owned by Imagina itself, Mediapro's parent company, and Barcelona City Council. Currently, the tenants of the property are Mediapro and Pompeu Fabra University.

If the operation closes, Hines will pocket a return of more than 33%, just four years after buying it. The firm led in Spain by Vanessa Gelado acquired Diagonal 177 from Mediapro and Barcelona City Council for 90 million euros in 2018.

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