Advenis REIM completes second acquisition in Spain

CBRE has advised French fund Advenis REIM on the acquisition of 3 properties in Barcelona deploying c. €11 million on behalf of SCPI Elialys. The three fully let offices are independent buildings, built between 1996 and 2000, with a total surface area of ​​5,546 m² and include 93 private parking spaces.

The buildings are located in the CityPark Business Park to the south-west of Barcelona and benefit from proximity to the airport, the city center as well as being 10-minutes walking from the metro station.

In total, the properties have 25 tenants including Sauter Ibérica, Thermo Fisher and OHL and a weighted average unexpired lease term (WAULT) of 4 years.

The CityPark Business Park in Cornellá de Llobregat is comprised of 12 functionally independent buildings and has landscaped areas and services for its users. In addition, there are various commercial & residential property developments underway nearby which are expected to further consolidate the neighborhood in years to come.

This is Advenis REIM’s second acquisition in Spain, following the purchase of an office building with a GLA of 6,444m² in Madrid’s La Florida neighbourhood as published by during Q1 of 2020.

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