In the second week back after the summer break the data sheet features August’s highlights, including office deals in Bilbao, Barcelona and Madrid.
CaixaBank’s own real estate subsidiary set a record price for Madrid offices - of €12,778 per square metre - topping 15 bids for the bank’s historic HQ at 51 Paseo de La Castellana. Underbidders included GIC, JP Morgan and CBRE IM. CaixaBank is in the throes of moving staff out of the prime location.
The Barcelona transaction was the closing of the sale of Freo and King Street Capital’s completed development, mile22@. Put on the market in March for €250 mln, it has sold for €220 mln. The vendors' prelet to food delivery group Glovo was the largest leasing seen to a private company in the city.
BBVA’s Bilbao HQ - which it continues to occupy - was finally sold two years after it first went on the market, to Spanish real estate company, Argis.
Green lending surged in August: Irish bank AIB, French bank Credit Agricole and non-bank debt investors Barings Real Estate and Oaktree-backed Silbury wrote loans at preferred prices for borrowers adhering to green building standards. And despite the volatility in capital markets, Segro and Greek propco Lamda both issued green bonds.
We also track new assets on the market and funds raising capital.
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