Deal News: AXA IM Alts completes the disposal of five office assets in Barcelona, Spain
AXA IM Alts, a global leader in alternative investments with c. €162 billion of assets under management(1), announces that it has completed the sale, on behalf of clients, of a portfolio of five office buildings let on a long-term basis to Generalitat de Cataluña, the regional government of Catalonia.
Located in the City Center of Barcelona, the office buildings provide approximately 31,700 sqm of office space, with excellent connectivity.
AXA IM Alts acquired the buildings, on behalf of clients, as part of a portfolio of 13 buildings let to the Generalitat de Cataluña in 2013. Since acquisition, AXA IM Alts’ local team has undertaken a range of active asset management initiatives across the portfolio, including refurbishment programmes agreed with the tenant to improve the asset quality and occupier experience, as well as well as enhancing the sustainability credentials of the buildings.
Following the sale, the Generalitat de Cataluña remains one of AXA IM Alts’ most important occupiers in Spain, being situated in Fira Building, a 58,600 sqm office building in Barcelona, and which AXA IM Alts still owns.
1 Source: AXA IM Alts’ unaudited data as of March 2021
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