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Germany’s GRC Expands Portfolio in Spain With Acquisition in Bilbao

The investment fund bought a building in the city centre for 35 million euros.

GRC Bilbao 1

The German investment fund Global Realty Capital (GRC) has acquired an asset in the centre of Bilbao for 25 million euros. The property, a ruined former industrial building, will be demolished, giving way to a 65-flat apartment tower, comprising two- and three-bedroom homes, next to the city’s bullring.

This new development, which will begin construction at the end of this year, is one of the few new ones in the centre of Bilbao, on calle Andrés Isasi and next to the Plaza de Toros. Roca Junyent provided legal advice on the transaction.

GRC also acquired land in Madrid at the beginning of the year on Calle Embajadores. There, it will develop 24 homes. The transaction was executed at the beginning of the year, and work has already begun.

Read the full article in Spanish

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