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Blackstone negotiates purchase of Torre Tarragona for €110M
06 June 2019 | Vanessa Sousa

The 19 floor Torre Tarragona is currently being negotiated between its current owner bank UBS Global Asset Management, and American fund Blackstone for a maximum amount of 110 million euro.

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This building is located at number 161 Carrer de Tarragona, from where it received its name, and it has 18.150 sqm and 250 parking spots, revealed Spanish newspaper Cinco on its print edition. There are several companies which have their offices on this location of the Catalan capital, such as Pepsico, Acens and Quercus.

UBS purchased the building in 2015 for 72 million euro from its then owner Omega Capital. And, since then it carried out its plans to refurbish the building, on which it invested around 10 million euro. According to the calculations made by the newspaper, if UBS manages to sell the asset for the maximum amount announced, it will receive 25% in added value.