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Commerz Real reaches a €186.9M portfolio in Spain
21 February 2020 | Vanessa Sousa

After 14 years without investing in Spain, management company Commerz Real managed to reach a 185.9 million euro portfolio in Spain.

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Office building located next to the Madrid- Barajas airport 

A good slice of that amount is connected to two office buildings located in Barcelona, which were acquired at the end of last year from Conren Tramway for 130 million euro, as confirmed by the company’s press release issued this Thursday.

Along with this, at the beginning of the year was announced the purchase of another office building with 10.000 sqm, located next to the Madrid- Barajas airport. The building should be turned into a hotel which will host 280 rooms and it will be the first investment from the "Commerz Real European Hotel Fund".

Concerning the financial results at the end of last year, whose highlight was the value of the portfolio managed by the company which was estimated at 32.000 million euro, Andreas Muschter, Chairman of the Board at Commerz Real, revealed that «we never had such end of the year results».

Concerning the company’s track so far, Muschter commented that «we have significantly consolidated our position in the market and in all business areas, we advanced tremendously in digitalisation and we expect to keep growing in 2020».