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Diari de Catalunya

InmoCaixa closes purchase of Estel Building for 385 million, Barcelona's most expensive

The transaction represents the largest single-asset office deal by value in the Catalan capital's market to date.

Generic view of a large modern office building in a city, featuring a glass facade.
IA

Generic view of a large modern office building in a city, featuring a glass facade.

InmoCaixa, the real estate subsidiary of CriteriaCaixa, has finalized the acquisition of the iconic Estel Building in Barcelona, home to AstraZeneca, for approximately 385 million euros, making it the city's most expensive office purchase.

The purchase, closed this Friday, was agreed upon with the international investment firms Bain Capital and Freo Group. This transaction, valued at around 385 million euros, has been highlighted by the selling companies as the most expensive acquisition of an office building in the Catalan capital.
The property, located at the junction of Avinguda Roma and Carrer Mallorca, is considered the largest office building in Barcelona, boasting a rental area of 52,000 square meters. Following a recent transformation, Estel hosts AstraZeneca as its main tenant, along with several technological and international companies, maintaining an occupancy rate above 90%.
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"A high-quality asset focused on sustainability."

Rafael Coste Campos · Partner at Bain Capital
This operation is part of CriteriaCaixa's 2030 Strategic Plan, which aims to accelerate the transformation of the InmoCaixa portfolio. The goal is to divest from certain assets to reinvest in those that generate recurring income with higher profitability and potential for revaluation.

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