Bain Capital Credit and FREO acquire iconic Estel Building in central Barcelona

Bain Capital Credit and FREO Group have completed their joint acquisition of the Estel Building on Avenida de Roma, in central Barcelona, Spain.

The Estel building is iconic and one of the most recognizable buildings in Barcelona. Located in the city’s desirable Eixample district, the property is well connected and in close proximity to Sants, Barcelona CBD’s largest railway station, and multiple metro lines. The 14-story building was originally developed as the headquarters of Spanish national telecommunications company Telefonica.

Bain Capital and FREO plan to develop the Estel building into a modern and unique destination that will offer 47,000 square meters (505,904 square feet) of best-in-class, class A office space, as well as retail and dining amenities, and has been designed to appeal to a range of occupiers through the provision of flexible floor plates. In addition, tenant amenities in the building will include an auditorium, meeting rooms, gym, sports an