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The Fund Argis Buys BBVA’s Headquarters on Bilbao’s Gran Vía for €150 Million

BBVA will continue as the tenant of the asset, which spans more than 20,000 square metres and which has a BREEAM sustainability certificate, until 2045.

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The insurance firm Mutualidad de la Abogacía has announced the sale of the iconic BBVA headquarters located at number 12 Gran Vía López de Haro in Bilbao. The buyer is Argis, a Madrid real estate asset management platform, and the tenant will continue to be BBVA until 2045. The bank has a binding contract until 2030 and the option for subsequent renewals thereafter.

After almost two years of failed attempts, the operation has been closed for approximately 150 million euros, which represents one of the most significant transactions of the year in the office segment. At the same time, the deal yields important capital gains for the insurer. The advisor on the sale side was BNP Paribas Real Estate.

Read the full article in Spanish.

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