UBS Global Asset Management has invested €80m ($88.3m) in a Spanish office scheme.
Fund manager Benson Elliot said it has sold the Cornerstone asset, in Poblenou, a Barcelona office district, to a fund managed by UBS.
The former said it forward-purchased the property in 2011 from Solvia, a subsidiary of Banco Sabadell, in a joint venture with Bream Real Estate.
The 20,700 sqm development, which opened in late 2013, is 77% let.
Source: IPE Real Estate