The year of the SOCIMIs -the investment companies Real Estate-Registry.com closes with a dramatic increase in investment transactions made in the sector. His entry into the market, along with that of opportunistic investment funds, has also contributed to investment volumes have exceeded 2013. The latest data relating to Spain include investments of which were conducted in 2007-just the peak in the real estate boom, and the numbers are equally prominent so it refers to the area of Barcelona, where the investor has employed more than 1,330 million in real estate transactions. In similar figures coincide leading real estate consultants in the market, although operations accounted different way, according to the criteria applied each. But available figures represent a 15% above the investment made in 2013.
Property transactions in Catalunya
"If something stands in addition to the figures is that they have only operations that have not gone more active in markets. Quality projects have failed to sell, "said Carlos Bajo, responsible investment consultancy Aguirre Newman. The issue is that buyers 'usually ask the letter to the Kings' central building with high incomes ... ", but this is hard to find at this time," he adds.
UNLOCK THE CENTER / The truth is that older office operations that have been made during the year were to vacate downtown buildings and offices move to more peripheral locations. The most obvious example is the sale of the headquarters of the firm Cuatrecasas on Passeig de Gràcia 111 -the Deutsche Bank tower, purchased by the fund KKH 90 million to develop a Fourseason hotel chain, while the law firm moves to a new building under construction in the 22 @.
The same goes Henkel headquarters in Corsica Street. The company will move its offices to the building Cornerstone in Poblenou, while the buyer (Meridia) projects a downtown hotel property. According to property consultant CBRE, this year they have closed 13 transactions in the office segment, the same as in 2013, which entailed the transaction 311,788 square meters.
For Aguirre Newman, however, the volume of operations office during the year have generated an investment volume of 571 million. There is some discrepancy between the partial figures shuffled consultants because different criteria when accounting operations. However, the total amount of investment is quite similar.
It is also agreement on the characteristics of operations: with an investment volume still below the 2007 'transactions represent many more square feet than those made at the time, since the prices are also lower now, "said Xavier Güell, investment director at CBRE.
MALLS / While investment in shopping malls and in the Barcelona area has not been spectacular in 2014, it is the activity that investment registered with the whole of Spain, more than 3,000 million. In Catalunya are two transactions: the sale of L'Ànec Blau, Castelldefels Mall, Lar acquired by the REIT, in an operation mediated by Jones Lang Lasalle (JLL) and the World Trade Center Almeda Park (Cornellà), purchased by another REIT, Merlin Properties in a deal mediated by Cushman & Wakefield. "It is the sector that has sparked further interest from international investors as it begins to offer attractive yields," said Oriol Barrachina, director of the Barcelona office of that past consultant.
This year nine operations were closed volume in the hospitality sector which three stand out: the aforementioned purchase of Deutsche Bank tower by KKH, the purchase of Hotel Reanaissance by the investment fund Qatar army of 78 million and the transfer of the seat of Henkel at the bottom Meridia, participated by Javier Faus, to locate a hotel and a shopping center.
