BC Partners Real Estate and FREO Group complete the acquisition of the Novartis Headquarters in Barcelona city centre

Barcelona, Spain, 1st December 2022: BC Partners Real Estate, the real estate investment arm of leading international investment firm, together with FREO Group (“FREO”), today announced the completion of their joint acquisition of the office building located at Gran Vía de les Corts Catalanes 764, in the city centre of Barcelona.

This asset, which has been the Spanish headquarter of pharmaceutical company Novartis since the 70’s, is an iconic corner building in Barcelona. Located in the Eixample district close to the famous Sagrada Familia in one of the most attractive areas of the city, the asset sits on the main strategic axis between Passeig de Gràcia (Barcelona’s CBD) and Plaza de les Glòries Catalanes (prime 22@).

BC Partners Real Estate and FREO have acquired the asset through a sale and partial leaseback with Novartis, which will lease half of the office space once work is complete. The plan is for the building to undergo a comprehensive refurbishment as well as an internal and external redesign to turn it into modern and sustainable workspace of c. 13,000 sqm. Amenities in the building will include an auditorium, catering facilities, meeting rooms and three terraces, including a large rooftop with spectacular unobstructed views over the city of Barcelona. The programme is also committed to achieving the highest sustainability and ESG standards.

You can read the full press release now at the link below

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