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Oaktree and Freo place 5 offices on the market for €160M
14 May 2019 | Vanessa Sousa

Four offices located in Madrid and one in Barcelona, owned by the Oaktree fund and German real estate management company Freo, are on the market. The companies expect to gain 160 million euro with this five asset portfolio alone.

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The news is reported this Tuesday on Spanish newspaper El Economista’s print edition, which also reveals that this divestment strategy was given the go ahead, because of the interest several investors showed in this portfolio and have already sent purchasing propositions to both companies.

The deal should be closed this year and, according to the same newspaper, it will be advised by consultant CBRE.

Both Oaktree and Freo expect to obtain added value with the deal, since these buildings were recently refurbished.

These offices were acquired in 2017, along with 9 other assets, from bank BBVA for 180 million euro.