Union Investment has bought BBVA’s Torre Diagonal Litoral in the 22@ area of Barcelona for €84m, reflecting a yield of 5.75%.
The building is fully let on a five-year lease.
Spanish bank BBVA is still selling two of the four buildings from its €170m portfolio in Madrid, and an office at Castellana 77.
Across the border in Portugal, the ministry of justice has made a u-turn and leased Norfin’s 65,000 m² office building in Lisbon’s Parque Expo.
The ministry had backed out of the deal over €16 per m² a month rent but has settled on around €12 per m² a month.
