Glenwell Group has closed the sale of its latest office project in Spain
Z Green Oasis, the new office campus in the prime area of Barcelona’s [email protected] district, was sold to CBRE Global Investors in forward purchase format.
Designed by the renowned architectural firm BCA, with a total office area of 15,439 sq m, Z Green Oasis consists of three new buildings alongside three converted modernist warehouses, all expected to complete by Q3 2023. The innovative campus is a pioneer in urban regeneration due to more than 5,000 sq m of green space and outside terraces. Z Green Oasis meets LEED Gold and WELL Gold standards, as well as the highest standards in sustainability.
For David Sánchez, CEO of Glenwell Group in Spain and Portugal: “Z Green Oasis has been one of our reference projects. This transaction consolidates the group’s objective of maintaining the strategy of developing quality and innovative real estate projects that meet the needs of a dynamic market, which seeks urban integration and value generation in a neighbourhood in constant movement such as the [email protected] district. This is a commitment in line with the developments we have been carrying out at Glenwell Group since our arrival in Spain in 2017.”
Carlos Bajo, Office Capital Markets Director at Savills Aguirre Newman Barcelona that has advised the agreement, commented that “The deal is a very good news as it reinforces confidence in Barcelona office market in the medium term and shows the interest of international capital in new developments in [email protected] district”.
According to Antonio Roncero, the Head of Transactions Iberia at CBRE Global Investors, “The office campus caters for the increasing demand for best-in-class office space and de-densification, driven by discerning occupier requirements to provide flexible collaborative space”.