Spanish lender BBVA has sold a portfolio of 14 office properties across Spain with a total book value exceeding €300 mln.
The price paid for the assets, which are located in Cataluña, Madrid and the Community of Valencia, was not revealed. In total, the properties represent a gross leasable area of 116,000 m2 with individual surface areas ranging between 1,000 m2 and 24,000 m2.
'We are fulfilling the road map we set out and we will continue to close operations of this kind,' commented Javier Rodríguez Soler, BBVA's strategy and M&A director.
According to BBVA, numerous wholesale investors and real estate companies participated in the bidding process.
The deal marks the second large portfolio sale for BBVA this year, after divesting Project Buffalo last month, comprising 3,500 properties.
