US asset management giant Blackstone has announced the sale of four office buildings in Madrid and Barcelona to French asset manager Tikehau Capital and Singapore's IREIT Global for a price of €130 mln.
The properties were owned by subsidiaries of Blackstone's Spanish REIT, Corona Patrimonial. Proceeds from the sale will largely be used to pay off debt, the company said.
The portfolio includes two assets Delta Nova 4 and 6 on avenida Manoteras in Madrid, providing a total of 25,000 m2 of space, as well as the 21,000-m2 Illumina and the 26,000-m2 Sant Cugat Green office buildings in Barcelona. The properties are leased to tenants including TV3, Coca-Cola and Roche.