Spanish independent real estate fund manager IBA Capital is understood to be in exclusive talks to acquire the Glòries office complex in Barcelona from US asset management giant Blackstone.
IBA is believed to be negotiating a price of around €120 mln for the complex which consists of three buildings covering a total 21,500 m2 of space.
Blackstone hired both CBRE and Savills Aguirre Newman to market the property in late 2020. Located on the upper floors of shopping centre Glòries, which is owned by Unibail-Rodamco-Westfield, the complex is situated between the Diagonal, Ciutat de Granada and Gran Vía avenues.
Blackstone acquired the asset when it took over Hispania REIT in 2018, as part of its strategy at that time to expand its hotel holdings in Spain. Hispania in turn had purchased the office from General Electric RE.
Last year the private equity giant successfully offloaded the 35,000 m2 future headquarters of ING Bank at Helios Business Park for €190 mln.
IBA Capital declined to comment.
