Hispania has sold the 4,700 sq m Aurelio Menéndez office building in Madrid for a total of EUR37.5 million, equivalent to a price of EUR7,800/sq m.

Neinor Homes closed yesterday the acquisition of a fully permitted land plot in Valencia, with a buildable area of over 50,000 m² and suitable for constructing ca. 400 units. It is located in the Malilla neighborhood of Valencia, across the street from La Fe Hospital (the biggest in the city) and where the Company acquired another plot in March.

AXA IM - Real Assets, a global leader in real asset investments and the leading real estate portfolio and asset manager in Europe, announces that it has completed the acquisition, on behalf of AXA Insurance Companies, of a 55% stake in the Hilton Diagonal Mar Hotel in central Barcelona, from Iberdrola Inmobiliaria for €80 million. The hotel is operated by Hilton Hotels on a long term lease. 

Hispania, has acquired the Hotel Selomar in Benidorm with a total of 245 keys for circa EUR16 million. The beachfront hotel on Playa Levante also provides easy access to the popular historic ‘old’ town’ area of the city.

UBS Asset Management's (UBS-AM) Real Estate & Private Markets (REPM) business has completed the acquisition of the PP10 Warehouses, two core logistics assets located in Madrid, Spain. The assets were acquired by REPM’s Iberian team on behalf of a separate account client from Invesco Real Estate for EUR35.15 million.

AXA Investment Managers - Real Assets (“AXA IM - Real Assets”), a global leader in real asset investments and the leading real estate portfolio and asset manager in Europe, announces that it has completed the acquisition, on behalf of AXA CoRE Europe Fund, in an 85/15 joint venture with Sonae Sierra, of Area Sur Shopping Centre (“Area Sur”) in Jerez, Andalusia, Spain, from Union Investment. 

Orion Capital Managers has taken full ownership of Sotogrande Luxco, the major shareholder of a luxury resort developer in Spain. Orion has bought the remaining 50% stake in Sotogrande Luxco from its joint venture partner Cerberus Capital Management.

Blackstone has confirmed the €12.25bn sale of its European logistics arm Logicor to China Investment Corporation. The sale of Logicor, which owns a portfolio of assets totalling 147m sqft in 17 countries, has long been anticipated by the market.

TH Real Estate has agreed to enter into a 50:50 joint venture partnership with Intu Properties Plc, acquiring a 50% stake in the Xanadú Shopping Centre in Madrid, Spain.

Klépierre has acquired Nueva Condomina, a shopping mall in the region of Murcia, Spain, for €233 million ($260 million). Klépierre purchased 100 percent of the shares of the Spanish entity that directly owns Nueva Condomina from a subsidiary of BNP Paribas Fortis SA/NV.

CBRE Global Investors has agreed to acquire a 70 per cent interest in H2O Rivas Shopping Centre in Madrid, Spain for an undisclosed amount.

Generali Real Estate, the real estate asset manager of the Generali Group, has acquired a primary commercial property in Madrid, calle de Preciados 9, from CBRE Global Investment Partners in a joint venture with IBA Capital Partners.

Whilst improving global economic conditions during the first quarter of the year are supporting sentiment in most parts of the world, EU markets continue to lead the way. With respect to occupier demand growth, Madrid, Budapest, Dublin, Munich, Berlin and Lisbon, posted particularly strong results according to the latest RICS Commercial Property Monitor.

The long legacy of the vast books of bad debts accrued by Spanish banks has proven to be good business for US private equity groups, which have emerged as custodians to the country’s real estate woes. TPG, Apollo, Blackstone and Cerberus have become powerful players in the highly profitable Spanish loan-servicing industry, which has emerged from the country’s banking crisis and has been critical to its recovery.

Aviva Investors and LaSalle Investment Management have bought a Spanish shopping centre for their jointly managed European open-ended fund.

Barings Real Estate Advisers has acquired from GLL Real Estate Partners a fully let logistics asset in Madrid for EUR35 million as part of its core investment strategy across Europe.

European logistics property investor-developer P3 has acquired a 3.5 million-square-foot portfolio of 11 logistics and distribution warehouses in Spain from Gore Spain Holdings SOCIMI I for €243.35 million ($257 million). 

Patron Capital and Eurofund Capital Partners have joined forces to acquire three shopping centres: El Mirador in Cuenca, Los Alcores in Alcalá de Guadaira near Seville and Alzamora in Alcoy (Alicante).

TH Real Estate has just completed its first acquisition on behalf of its European Logistics Fund (ELOF), a logistics centre in the greater Madrid area for €21.5m.

Shares in Spanish property developer Neinor Homes jumped 9 per cent on their first day of trading, in the latest sign of growing investor demand for the country’s recovering real estate sector.