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Hines Finalising Acquisition of Torre Diagonal in Sabadell

The financial institution, Banco Sabadell, will receive 90 million euros from Hines for the asset and continue as a tenant on the first and ground floors.

Hines

Hines is the favourite to buy Torre Diagonal, a building owned by Banco Sabadell. The international company, headed in Spain by Vanessa Gelado, will pay 90 million euros for the asset.

After several weeks of exclusive negotiations with Hines, the bank will continue to rent the first and ground floors. The site will continue to house the bank’s main office in the city and its private banking arm.

The asset passed into the hands of Sabadell in 2003, after it bought Banco Atlántico for €1.5 billion. After the merger, the building became the headquarters of the bank currently chaired by Josep Oliu.

The complex is located at Avenida Diagonal 407, along with Calle Balmes. It has 22 floors and 12,000 square metres. Built in 1969, it is partially disused, and its facilities will need to be refurbished to bring them into line with current market requirements.

Read the full article in Spanish

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