A total of 25 deals within the office segment were concluded in Portugal and Spain during the first quarter, totalling 1.209 million euro invested. This amount is in line with last year’s numbers during the same period.
The office segment closed the first quarter with an average ticket of almost 48.4 million euro per deal, around 14% less than the previous 4 quarters.
This is not the only negative indicator for this segment. According to data revealed by the latest Office Report from Iberian Property, investment volumes, the number of deals and the comparison with other segments suffered a negative evolution when compared to the previous quarter.
34.8% of all investment during the last 4 quarters was absorbed by Madrid, which also hosted 4 of the 5 largest deals of the year’s first quarter. Among them is the ING Headquarter, part of the Helios Park, which Inmark bought from Hispania – which belongs to Blackstone – for 190 million euro. Catalonia received 25.5% and the remaining Spanish regions 20.6% with Spain concentrating 80% of all office investment – 80,9%.
Nevertheless, Portugal had the second-largest operation in this segment: the acquisition of the so-called PREOF portfolio by Cerberus from Finsolutia for 155 million euro. Of the whole invested in Portugal – whose share of the Iberian office market was 19.1% - the largest part was within the Lisbon office market (12.3%)
All the information is available at the Office Report launched by Iberian Property, which can be downloaded HERE.
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Disclaimer: This information is based on public data gathered within the platform Iberian Property Data. All estimates were calculated based on registered public information and data from the main consultants within the market. It should be noted that the results presented here may be updated if new information is issued.