German investor Commerz Real has returned to the Spanish market with a €132 mln office investment in Barcelona's 22@ district.
The deal - Commerz Real's first buy in Spain since 2005 - involves two office development projects known as B97 and A160 providing a total of 23,000 m2.
The assets were bought from Conren Tramway in a forward funding transaction expected to close in 2022.
'The positive evolution of the Spanish economy and its very good future prospects make investments interesting again for us,' commented Henning Koch, global head of transactions at Commerz Real, commenting on the firm's return to the Spanish market.
