The purchase, formalized this Friday before a notary, makes InmoCaixa, the real estate subsidiary of CriteriaCaixa, the new owner of the well-known block on Avenida Roma. The property, the largest office building in the Catalan capital with 52,000 square meters, was acquired from investment firms Bain Capital and Freo Group.
The Estel Building remained closed for 13 years after Telefónica left. Its renovation and the subsequent arrival of the pharmaceutical company AstraZeneca have transformed the space into a reference biomedical research hub in southern Europe.
The Estel Building is close to full occupancy with a 92% level following the recent incorporation of the orthodontics firm Impress.
Less than three months ago, authorities such as President Salvador Illa, Minister Mónica García, and Mayor Jaume Collboni celebrated the inauguration of AstraZeneca's new headquarters, highlighting public-private collaboration. This purchase is part of CriteriaCaixa's new strategic plan, which seeks to divest in order to reinvest in assets that generate recurrent income with higher profitability.
