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Starwood negotiates purchase of Oaktree’s portfolio for €150M
04 June 2019 | Vanessa Sousa

The sale of the 5 asset portfolio currently owned by American Oaktree and German Freo is being negotiated with Starwood Capital and Drago Capital, who are willing to pay 150 million euro for it.

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Four of these office buildings are located in the Spanish capital. Two of them occupy numbers 4 and 6 at Calle Julián Camarillo and, according to a report from Expansión, the latter has 23.664 sqm and 478 parking spots. The third building is located at number 44 Avenida de Manoteras and it has 15.098 sqm. The fourth is located at number 13 Calle Valportillo Primavera, in Alcobendas, a secondary region within the Spanish capital. This is, according to the Spanish newspaper, the smaller of the four buildings with 5.297 sqm.

The fifth building is located in Barcelona at numbers 21, 23 and 25 Calle Samontá and, according to the same newspaper, it has 24.400 sqm and 245 parking spots.

This portfolio – which has total combined area of 78.428 sqm and 1323 parking spots – is currently leased to several companies such as Indra, BBVA and Air France.

This operation should be the second Starwood carries out in Spanish territory. The first was concluded in January with the purchase of an office building portfolio located in Madrid from REIT Autonomy for 125 million euro.

The American company had already invested in the Spanish capital last May, when it bought the San Fernando Business Park for 120 million euro.