Värde Partners: 50 million Euro in Barcelona Construction Investment for 52,000 m2 of Office Space

• This is one of the largest real estate operations of the year in Barcelona
• Office demand is 40% above the average for the last 10 years

One of the largest real estate investment funds, from the North-American group Värde Partners, which is based in Minneapolis, recently acquired a plot of 13,000 m² in the Innovació 22@ district of Barcelona, with plans to construct 52,000 m² of office area. The Helix Project is an operation under the management of CBRE, and will involve the disbursement of 50 million euro in one of the largest real estate operations to have taken place in 2017 in Barcelona, given that investment in the building project alone will total 70 million euros more.

Värde Partners is already involved in other projects in Barcelona, after having purchased the construction development company Via Celere, which had several different projects underway in the Catalan capital, such as that of Magòria, on the Gran Via de les Corts Catalanes, in the Sants-Montjuïc district, or on Carrer Aragó.

The company has its main offices in Minneapolis, London and Singapore and moves assets worth over 10,000 million dollars worldwide, investing in markets all over the world through other secondary offices in Barcelona, Dublin, Luxembourg, Madrid, Milan, New York, Sydney and Tokyo.

It is worth noting that demand for office space during the first quarter of the year stood at 40% above average with respect to the last 10 years, and that 208,000 m² of offices were rented in the city, which is 39% more than that recorded during the same period last year. This data appears in the latest Marketbeat Oficines report, from the real estate consultant Cushman & Wakefield.

[11/23/2017]