The Azurelau investment vehicle, owned by Antonio Vila and Santiago Oller, has sold Barcelona's most iconic building to its main tenant, Aguas de Barcelona (Agbar) for around EUR 165 mln. The Catalan water utility company has decided to exercise its option to buy its corporate headquarters, the Agbar tower, according to a news report in Spanish newspaper Expansion.
The Azurelau investment vehicle, owned by Antonio Vila and Santiago Oller, has sold Barcelona's most iconic building to its main tenant, Aguas de Barcelona (Agbar) for around EUR 165 mln. The Catalan water utility company has decided to exercise its option to buy its corporate headquarters, the Agbar tower, according to a news report in Spanish newspaper Expansion.
Designed by star architect Jean Nouvel, the Agbar tower was purchased by Azurelau in 2007 from developer Layetana. The transaction represents Barcelona's largest office property deal of the past two years.
According to Expansion, the 142-metre skyscraper has a debt facility of EUR 130 mln in place provided by La Caixa and Agbar could decide to take over the debt from Azurelau or pay the entire price in cash.
Located at Avenida Diagonal, one of the city's main streets, Torre Agbar provides some 51,000 m2 of office space. The 35-storey building was inaugurated in September 2005 in a ceremony attended by the Spanish Royal Family.
