Planeta headquarters purchased for €250 million in most noteworthy recent real estate operation in Barcelona

Pontegadea Inversiones, the family office of Inditex founder and owner  Amancio Ortega, signed a deal with the  Blackstone fund to purchase the current headquarters of the Planeta Group, located at Avinguda Diagonal 662. Sources close to the negotiations note that the operation was valued at roughly €250 million, making it the city’s largest real estate operation so far this year.

Pontegadea has other real estate assets in Barcelona, such as the former Banesto headquarters and the former BBVA headquarters on Plaça Catalunya, and an office building at Passeig de Gràcia 56, among others.

Additionally, US investment firm Income Opportunity Fund II (IOF II) is putting the finishing touches on the full remodel of the former Novartis headquarters in Barcelona, at Carrer de la Marina 206, which has nearly 6,500 square metres of space. IOF II purchased the asset from the Swiss pharmaceutical group for €13.5 million and has invested €8.4 million to fully remodel it.

Also, Acciona has closed the deal for the Nestlé headquarters in Esplugues de Llobregat to be acquired by South Korean fund Igis Asset Management. The operation was valued at €65 million and the new owner will turn the property into housing. Nestlé has a lease and expects to continue its activity in the building, which has 30,000 square metres of space.

Finally, insurance company Zurich just sold the building that houses the headquarters of the Catalan Ministry for Social Rights and Inclusion in Diagonal Mar, to Portuguese fund Square Asset Management. The operation was valued at roughly €40 million. The property has 18,000 square metres of floor space on 23 storeys.