BPPEH Completes Disposal of Barcelona Office Asset
BPPEH has completed the disposal of an office asset located on Avenida Diagonal in Barcelona, Spain to a private investment group for €225 million.
Under BPPEH’s ownership, the 29,000 sqm asset underwent a significant refurbishment, enhancing both the common areas and office units, as well as the implementation of sustainability-focused initiatives, including achieving a LEED Platinum certification. BPPEH successfully signed renewals and new leases for nearly the entire gross leasable area and the asset is currently 98% occupied with a 7-year average lease term (to break). Having completed its asset management plan, the sale represents a successful outcome for BPPEH.
About BPPEH
Blackstone Property Partners Europe Holdings S.à r.l. (“BPPEH”) invests in high-quality, substantially stabilised real estate assets across Europe. Investments are concentrated primarily in the logistics, residential and office sectors, with a focus on major European markets and key gateway cities. BPPEH is 100% owned by Blackstone Property Partners Europe.