ING Real Estate said it has acquired the Imagina TV office building in Barcelona, Spain for EUR 57 mln. The property will be added to the company's European Office Fund.
ING Real Estate said it has acquired the Imagina TV office building in Barcelona, Spain for EUR 57 mln. The property will be added to the company's European Office Fund.
The bulding, located close to Barcelona's central business district and airport, comprises some 20,000 m2 of floor space and 432 parking spaces. It has six floors and was completely refurbished in 2004. Tenants include Spanish broadcast media such as Television de Cataluna, CCRTV and Mediapro.
Commenting on the deal, Leo Weidenaar, who manages the office fund, said: 'Imagina is a sound cashflow investment that is secured with long-term leases. Furthermore, the transformation of this area includes several developments including health and sports facilities, as well as residential and office properties that will be delivered in the next three to five years, providing upward potential for indirect returns.'
