Madrid - Generali Real Estate has completed the acquisition of Portal del Angel, 40 building, a historical office and high-street asset in Barcelona, on behalf of the pan-European fund “Generali Core High Street Retail Fund” (GCHSR), managed by Generali Real Estate S.p.A Società di gestione del risparmio and reserved for professional investors. The seller of the asset is a subsidiary of the de Andres Puyol family, Medcap Real Estate.
The acquisition is fully in line with Generali Real Estate’s strategy of investing in prime assets in the most important and resilient European cities. Barcelona enjoys an international reputation as a financial, cultural, touristic and transport hub. Thanks to a very solid real estate market, especially for high-quality office and commercial assets, Barcelona is one of the cities that Generali Real Estate targets in its investment strategy. From Spain, Generali Real Estate currently manages a portfolio in Iberia worth more than € 2 billion.
The asset is located in Av. Portal del Angel, one of the main high-street retail in Spain, home to most of the mass-market retailers, and access point to the historic center and all the main touristic attractions in the city.
Source: realestate.union-investment.com on the 20th of December 2022
https://www.generalirealestate.com/content/bc009f75-02e2-ef34-ecb0-3fd8295e5ca1/20221220-Portal-del-Angel_ENG.pdf