Spain's fund manager Proactiva Asset Management is investing EUR 160 mln in the acquisition and transformation of the Cacaolat site in Barcelona's city centre. The company, through its new special vehicle Proactiva BCN-La Marina, has bought the plant for an undisclosed amount and plans to convert it into a residential complex with 320 apartments. The property, which now serves as production site for Parmalat Espana, was bought from Spain's Ruiz Mateos family, according to newspaper Expansion.
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