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Benson Elliot sells Barcelona office scheme for €80m

Benson Elliot has agreed the sale of its Cornerstone office development in Poblenou, Barcelona to a fund managed and a European mandate advised by UBS Global Asset Management's Global Real Estate (GRE) business, for €80m.
By James Wallace
July 13, 2015 | 5:58 P.M.

Benson Elliot agreed to forward purchase the 20,700 sqm office development from Banco Sabadell subsidiary Solvia in March 2011, in a joint venture with Bream Real Estate. At the time, few were willing to make such a considerable let alone speculative commitment to Spain’s real estate sector.

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News | Benson Elliot sells Barcelona office scheme for €80m