Spain's Iberdrola Inmobiliaria has sold the Torre Diagonal Litoral office building in Barcelona for EUR 60 mln. An Iberdrola spokesperson told PropertyEU that the buyer is a family-owned business from Valencia.
Spain's Iberdrola Inmobiliaria has sold the Torre Diagonal Litoral office building in Barcelona for EUR 60 mln. An Iberdrola spokesperson told PropertyEU that the buyer is a family-owned business from Valencia.
Iberdrola Inmobiliaria said that the disposal is in line with its strategy of asset rotation within its portfolio. Designed by architects TDA, Torre Diagonal Litoral offers around 18,500 m² of gross surface across 14 storeys as well as 244 parking spaces. The building is 95%-let and is located in the Diagonal Mar district of the city.
Torre Diagonal Litoral has a twin tower which was sold to BBVA in 2004. In May 2008, BBVA in turn sold it to Union Investment Real Estate for EUR 84 mln. The fully-let building was bought for the company's Immo-Invest: Europa fund.
Iberdrola is continuing to invest in the area with the development of the Porta Firal complex in the neighbouring Ciudad Condal part of the city. The project consists of four office tower developments currently under construction. Altogether, they will offer over 90,000 m² of office space over 22 floors and 1,000 parking spaces.
Iberdrola Inmobiliaria is the real estate arm of the Spanish energy group with a portfolio of over 245,000 m² of commercial space.
