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IBA Capital and Arab Investor Acquire Office Complex in 22@ from Blackstone

The office complex, valued at €120 million, consists of three buildings and approximately 21,500 square metres.

Together with a Middle Eastern institutional investor, the real estate management company IBA Capital Partners has acquired an office complex located above the Glòries shopping centre from Unibail Rodamco Westfield (URW).

The complex, which US fund Blackstone sold, comprises three buildings located at Carrer Ciutat de Granada 178, Carrer Diagonal 188 and Carrer Gran Via 866.

The three assets have a surface area of approximately 21,500 square metres and are more than 85% occupied. The properties have various tenants, including the Barcelona City Council.

The buildings come from Hispania (which had previously bought them from General Electric RE), a socimi acquired by Blackstone in 2018 to create a hotel giant around its HIP platform.

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