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Caixabank o Finance Construction of an Office Building for Cain and Freo in Barcelona’s 22@

Cain International and the Freo Group have received a €23-million line of credit from Caixabank to build a 15,000 m2-office building in Barcelona’s 22@ technology district.

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The project was acquired at the end of 2018 by Cain International, a private group that invests in European and US real estate assets, and the Freo Group, a German real estate fund manager. The City Council has now granted the necessary municipal permits to begin work, which is expected to be completed in 2021, according to Expansión.

Freo, through its Spanish subsidiary, will build 38,000 square metres of offices on land that belonged to Miete in Barcelona’s financial district. The German management company will invest 150 million euros in the project and intends to sell it for 200 million euros.

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