US fund Blackstone has sold Tarragona Tower in Barcelona to the Consorci de la Zona Franca (Consorci) for an undisclosed sum.
According to local reports, the price tag amounts to approximately €100 mln, making the operation the largest office property sale in Barcelona so far this year.
The public company was seeking an office property in Barcelona after selling a 17-hectare plot of land in Mercabarna at the end of 2021, for which it received €70 mln.
The change of ownership comes just four years after Blackstone acquired it from UBS for approximately €100 mln. Before Blackstone’s ownership, UBS had purchased the property from Omega Capital, the family office of Alicia Koplowitz, for €72 mln in 2015.
The Tarragona Tower, a 19-story building spanning 18,150 m2, opened its doors in the Sants neighbourhood of Barcelona in 1998.
Designed by renowned architect Josep Maria Fargas, the tower is one of his notable works, alongside the Planeta headquarters on Avinguda Diagonal and the former Banca Catalana building on Passeig de Gràcia, both of which were also owned by Blackstone.
Tarragona Tower is located in Barcelona’s financial district, a few meters from Barcelona’s Sants Station.
In a separate transaction last week, Blackstone exited the retail market by selling the Espacio León shopping centre to Hungarian investment firm Indotek for €45 mln.
