Starwood Capital Group has acquired the Omega office park in Madrid and the Pallars office park in Barcelona from affiliates of Autonomy Capital for €125 million ($142 million). Autonomy Capital is an investment manager specializing in thematic, multi-asset class investing across developed and emerging markets.
The Omega office park portfolio consists of four buildings, comprising approximately 33,458 square meters (360,139 square feet) of gross leasable area in Omega Business Park located in Madrid’s A1 corridor, a well-connected peripheral office district particularly popular with blue-chip companies. The Pallars office park is a fully leased class A office building, composed of 12,631 square meters (135,958 square feet) of gross leasable area, in Barcelona’s 22@ tech district. Starwood intends to optimize the assets through active management, which will help raise rents and increase occupancy.
Francesco Zanella, vice president at Starwood Capital Group, sa
