AVW European Real Estate Fund, a fund advised by Catella Real Estate AG, has acquired an office building in Barcelona from Renta Corporación for €25.8 million.
The building, located at 123 Via Augusta, is currently being refurbished by the Spanish listed company.
Once the refurbishment is completed at the end of next year, the asset, the headquarters of the Institute of North American Studies Foundation for more than half a century, will have nine floors of office space and a total leasable area of more than 3,900 m2. It will also have 781 m2 of terraces.
Catella AM Iberia, which negotiated and closed the acquisition of AVW European Real Estate Fund’s first transaction in the Iberian Peninsula, will be responsible for the local management of the investment.
