Private equity firm Carlyle Group is acquiring the Barcelona office of Spanish telephone company Telefonica for EUR 220 mln, Spain's news agency EFE has reported. Carlyle is buying the so-called Estel Building through its Carlyle Europe Real Estate Partners II fund. The property, located in Avenida de Roma in Barcelona, comprises some 38,000 m[sup]2[/sup] of residential space, 4,000 m[sup]2[/sup] of commercial areas and a four-storey parking lot. Telefonica will occupy the building until 2010, when its new head office development next to Barcelona's Forum is expected to be completed.

Private equity firm Carlyle Group is acquiring the Barcelona office of Spanish telephone company Telefonica for EUR 220 mln, Spain's news agency EFE has reported. Carlyle is buying the so-called Estel Building through its Carlyle Europe Real Estate Partners II fund. The property, located in Avenida de Roma in Barcelona, comprises some 38,000 m2 of residential space, 4,000 m2 of commercial areas and a four-storey parking lot. Telefonica will occupy the building until 2010, when its new head office development next to Barcelona's Forum is expected to be completed.