Amundi crosses the line with Barcelona acquisition

Amundi Real Estate this week completed its first acquisition in Barcelona - a deal which was first agreed nine months ago.

The asset manager signed off on Calle Sancho de Ávila, 65, a new 8,300 m2 office building in the city’s @22 district, for a reported price of €56 mln.

The developer, Conren Tramway, finished the ‘SA 65’ building in February and had pre-let it to a coworking company called Wojo which is owned by Accor, for a rent of €22.3 per m2/month on a nine-year lease.

L’ Étoile Properties and CBRE advised Amundi.

Last week PropertyEU reported that Amundi has completed on another acquisition, a 130,000 m2 fulfilment centre in Lahr in southwest Germany which is let to Zalando.

Sources say the asset manager has seen strong inflows for real estate into its SCPIs from French private retail investors and is one of the investors keen to continue to deploying capital, despite the coronavirus crisis.

Amundi is also believed to be close to buying a Paris office, Tangram, from InfraRed Capital and Hemisphere.

Spanish developer Conren Tramway is owned by the Hugas family of Spain and German manager Conren.