The take-up of office space in Madrid reached 110,000 m2 in Q2 2016, representing an increase of just over 25% compared to the same period last year. This is the first time in many years that the take-up is more than 100,000 m2 in a single quarter. In half yearly terms we are talking about 219,500 m2 of take-up of office space.

The Socimi ISC Fresh Water (Spanish REIT), owner of 213 assets leased to Banco de Sabadell, started trading on the MAB today. ISC Fresh Water Investment will become the twentieth listed real estate investment company to debut on the Alternative Investment Market (MAB) on Friday.

The macroeconomic data for 2015 confirms that the recovery of the Spanish economy is now gaining a strong foothold. With GDP growth of 3.2% in 2015 (twice the eurozone average), Spain is the fastest-growing of Europe’s advanced economies according to Oxford Economics, which forecasts 2.8% GDP growth for the country in 2016. Domestic demand is the main driver behind this growth.

AccorHotels believes that the addition of the three brands positions the company as a leading player in the global luxury hotel market, increases long term growth potential and profitability, and significantly expands the company’s footprint in North America, the world’s largest and most influential consumer market.

The process to purchase Diagonal Mar is entering its final stretch. With nothing but the final details left to finalise on what will be the largest real estate operation in the shopping centre segment for ten years, Deutsche Bank has taken the lead by outbidding CBRE Global Investors, ECE and Henderson Real Estate, the other three candidates left in the contest.

Hotel investment in Spain amounted to € 2,614 million in 2015, an investment 2.4 times higher than in 2014. The sun & beach segment remains the main focus of investment and represents 54% of the total. Geographically, the intense investment activity in the Canary Islands stands out, where the invested volume quintupled over the previous year, reaching €683 million (increase of € 547 million) and placing the archipelago as the most profitable Community with 12% more investment compared to 2014.

The Global Alternatives Survey, which covers ten asset classes and seven investor types, shows that of the top 100 alternative investment managers, real estate managers have the largest share of assets (34 per cent and over USD1.2 trillion), followed by hedge funds (21 per cent and USD755 billion), private equity fund managers (18 per cent and USD640 billion), private equity funds of funds (PEFoFs) (12 per cent and USD420 billion), funds of hedge funds (FoHFs) (6 per cent and USD222 billion), infrastructure (5 per cent) and illiquid credit (5 per cent).

Located at the Olympic Harbour, the hotel has views over the Mediterranean. Its beach location, together with its close proximity to the city centre and popular tourist attraction, makes the Pullman Barcelona an attractive destination for international business and leisure travellers. The 5 star hotel comprises 241 bedrooms and suites, various food & beverage outlets including pool & rooftop bar, buffet & a la carte restaurants, as well as 1,000 sq m of conference and meeting facilities.

Meliá Hotels International has opened a new hotel in Madrid, Spain. An historic building at the heart of the city that formerly housed the Hotel Ambassador and was also once the residence of the Dukes of Granada de Ega y Villahermosa has been renovated and transformed into the 180-room Gran Meliá Palacio de Los Duques. Meliá currently operates 160 hotels across Spain.

Rockspring Property Investment Managers has signed an agreement with Goodman to develop a 28,760 sq m logistics facility in Sant Esteve Sesrovires, near Barcelona.

Lar España Real Estate Socimi (LRE), the listed real estate investment company, has announced its intention to carry out a share capital increase valued at EUR 147.1 million, following the agreement reached yesterday by the Board of Directors.

As part of the transformation of the HotelInvest asset base, AccorHotels announces the sale of a portfolio of 85 hotels in Europe in the Economy and Midscale segments, for a total consideration of €504 million. 

Food and Beverage (F&B) is considered very important by 52% of the Spanish shopping centre visitors and is therefore one of the European countries where F&B is most highly valued.

EQT Infrastructure Limited and Mutua Madrileña have signed a definite agreement to sell Parkia to First State European Diversified Infrastructure Fund. The agreement is subject to anti-trust approval and is expected to close during Q3 2016.

GreenOak Real Estate has completed the acquisition of the 78,500 square meters (845,000 square feet) office complex ‘Las Mercedes’ from Standard Life Investments.

The agreement between the two companies forecasts an ambitious growth plan, through acquisitions and contributions of hotel assets in urban and vacation locations.

The establishments will be situated in Madrid, Barcelona, the Balearic Islands, the Canary Islands, the Costa del Sol, as well as in certain international destinations.

Merlin Properties Socimi SA and Metrovacesa SA agreed to combine their commercial and residential property businesses, creating Spain’s largest real estate investment trust in another sign of recovery in the country’s property industry.

KKR has raised $739m (€652m) for an opportunistic real estate fund targeting Europe.

The KKR Real Estate Partners Europe vehicle is focused on opportunistic investments in Western Europe.

Lar España Real Estate Socimi, S.A. (LRE), the listed real estate investment company, has acquired the Vistahermosa retail complex, located in the province of Alicante, for EUR 42.5 million.

The Vistahermosa retail complex comprises a gross lettable area of 33,550 sqm and features top-tier tenants such as Alcampo, Leroy Merlin and Media Markt.  

Prologis has signed a new lease agreement with Panalpina for a 12,000 square metre logistics facility at Prologis Park Alcalá in Madrid.

The park is the most modern of its kind in Madrid, with Class-A buildings that have been adapted to respond to high fire risk. Located at Corredor del Henares, Prologis Park Alcalá features wide manoeuvring areas and standalone buildings with enclosed common spaces suitable for the installation of surveillance equipment.