The transaction, advised by Aguirre Newman, reached the sum of 147 million euros. The other shortlisted candides were Colonial and GreenOak.
“This completes the divestment phase of non-core activities of the company. This significant strengthening of liquidity and solvency allows Ahorro Corporacion to develop its businesses better,”Jorge Gil Lozano, the President of Ahorro Corporacion said in a statement.
The building in due has 20,000 square meters of office space for rent spread over 12 floors together with some 530 parking spaces. Currently it has 100% occupancy rate and its first-line tenant list include apart from the seller itself Sareb, Deloitte or Alain Afflelou in the offices and Lateral, Maki, New York Burger or Dionysus in the commercial area and restaurants. The property on Castellana 89 was bought by Ahorro Corporacion from Barclays in 2003. The company will maintain its headquarters in the building and thus its corporate identity.
Deutsche Bank, the biggest German bank, aims to save up to 3,500 million euros in the next five years through the complete sale of Postbank and the closure of a quarter of its offices in Germany, that is 200 out of 750.
The US multinational General Electric (GE) is finishing the sale of most of its real estate portfolio valued at $30,000 million as a part of its strategy to reduce a large financial portfolio that has fueled the company's profits, according to the close sources.
The vacancy rate or amount of m {+2} of offices available in Greater Santiago first exceeded 10%. In the last quarter of 2014 closed at 11.11%, equivalent to 236,464 m {+2} of the total inventory of the capital -Class A + / A standard- or high, according to a report by Colliers International.
In the October-December period entered this market 103,657 m {+2} of offices, 84.6% more than in the third quarter of last year, when the vacancy was 8.52%."These vacancy levels should continue upward trend when considering the projects currently under construction and especially if the market is unable to absorb optimally production in the coming periods," said the report by the consultant.The manager of Colliers Studies, Carolina Arrau said that "no records had vacancy rates above 10% and the increase is directly related to production."Arrau said that 2015 is expected to enter approximately 280,000 m {+2} of new offices, more than 253,000 m {+2} registered in 2014. He added that the vacancy is expected to grow until the end of 2015 the figure 14% by the entry of new projects, mainly by the effect of the offices of the Costanera Center. "In that sense, having more choice and surface available, I could see a downward trend in prices," he said.The Colliers report states that "within the projects expected to enter this year and, therefore, do increase the offer period is the Costanera Center Tower 2 totaling 75,571 m {+2} useful; which a placement of 45,000 m {+2} the second quarter of 2015 and the rest by the end of 2015 is expected ".
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Barcelona is one of the cities with the greatest potential for real estate growth in Europe. At least so says the Trends 2015 report, prepared annually by CBRE, first company worldwide consulting and real estate services. Within the Barcelona market, the office segment is presented as the main engine, and in fact, CBRE estimates that revenues will grow between 25% and 30% until 2018.
CBRE international property consultant, selected by IDI Gazeley, Logistics Brookfield Properties, to manage its portfolio of logistics assets in Europe. The portfolio of IDI Gazeley, one of the leading logistics investors and developers worldwide, has 39 logistics warehouses spread across six European countries and which total over 850,000 square meters.
