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Blackstone closes sale of 4 office buildings for €130.5M
10 December 2019 | Vanessa Sousa

American Blackstone closed the sale agreement of three societies belonging to its REIT Corona Patrimonial for 130.5 million euro, which represents a 63% valuation of the REIT. The three societies included 4 office buildings, which are now part of Tikelau Capital and IREIT Global’s portfolio.


This acquisition is waiting for the green light from the REIT’s shareholders to be finalised. This information was advanced by REIT Corona in a release made available at the Mercado Alternativo Bursátil, on which it further explains that part of this amount will be destined to «fully pay the financial debt from that group of societies».

One of the assets traded is Building Sant Cugat Green, which is managed by Chameleon (Sant Cugat Investment 2014), S.L.U., it has 26.106 sqm in office spaces. This building also has 522 parking spots and it is located at Sant Cugat, a municipality in Barcelona.

Another asset is Building Illumina, located at Barcelona’s industrial park. It is owned by Chameleon (Esplugues), S.L.U. and it has 20.953 sqm and 319 parking spots.

This operation also included the transaction of the buildings Delta Nova 4 and Delta Nova 6, two office buildings located in Madrid which are part of Gloin Investment S.L.U. The first has a 10.139 sqm gross area, which is spread across 5 floors and 360 parking spots. Delta Nova 6, has 7 floors and a total area of 14.708 sqm, which includes 386 parking spots.

Giant Blackstone placed its REIT’s 4 buildings on the market in April. This divestment operation followed the sale of building MB One to Grosvenor for 80 million euro.

Last Update at 9:11 a.m. 12/12/2019