Hines has bought the office building located at Avenida Diagonal 407 in Barcelona, on behalf of its Hines European Core Fund (HECF), from Banco Sabadell.
With this acquisition, Hines increases its presence in the Barcelona office sector in the CBD market, a submarket with restricted supply and limited investment opportunities.
The tower, located at Avenida Diagonal 407, at the intersection with Calle Balmes, is one of Barcelona’s most iconic office buildings. The building, measuring 11,823 square meters (127,262 square feet) above ground level and with a height of 83 meters (272 feet), boasts 22 office floors. Along with the sales agreement, Hines and Banco Sabadell have entered into a lease agreement that will allow the bank to remain temporarily at the property, its former main corporate office hub in Barcelona, until early 2023. From then on, Banco Sabadell will occupy four floors including its main commercial branch and private banking office in the city for the
