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Two Spanish portfolios sell for €192m
In the past two years, investment activity in Spain has increased dramatically. Two separate Spanish property portfolios recently sold for a total of €192 million.
The Spanish property sector has seen increased transaction activity since 2012, according to Real Capital Analytics. In the third quarter of 2012, Spain had €195.4 million in office, retail and industrial transactions. Sales volume soared during the fourth quarter of 2012 to €1.05 billion in sales. During 2013, completed Spanish property transactions totalled approximately €2.89 billion, including €1.35 billion during the fourth quarter as investors became more interested in the Spanish market.
According to RCA, the first quarter of 2014 saw €1.03 billion in transaction volume, and the second quarter closed with €1.42 billion. The third quarter thus far is on track to surpass previous quarters’ sales activity. The quarter has approximately 966 transactions in the pipeline totalling €3.86 bi