Barcelona-headquartered Conren Tramway has sold two buildings currently under construction in the city’s 22@ district to Commerzbank for €132 million.
The two buildings have a total floorspace of 23,000 square metres – one (pictured) is located at 97 Calle Badajoz and will have 12 floors and a total floorspace of 14,000 square metres, while the other is located at 160 Calle Almogàvers, will have five floors, and will have a total floorspace of 9,000 square metres. Both were designed by architects Batlle i Roig.
Uría Menéndez advised Conren Tramway on the deal, while Cuatrecasas and CVO Group advised Commerz Real, the Commerzbank subsidiary that acquired the properties.
Conren Tramway plans to complete the development of the buildings by 2022.
Conren Tramway is a partnership between Tramway Capital and Conren Land that was established in 2016. Tramway Capital is a privately held Spanish investment firm founded by brothers Jaime and Paco Hugas. Conren Land is a real estate investment manager that was founded in Frankfurt in 2007.