The manager DWS buys an office tower in 22@ for 128 million

DWS, an asset management firm owned by the Deutsche Bank group, has bought the One Parc Central office development in the 22@ district from Värde Partners for 128 million euros. It is an office tower of 23,500 square meters that is part of a larger project that will include residential buildings, in addition to other office towers.

This operation confirms that large international real estate investment firms maintain their confidence and interest in the Catalan capital. A few months ago, another German investment fund, Patrizia, paid 72 million euros for the Diagrame office building, also under construction in 22@.

The sale of One Parc Central has been managed by Dospuntos Asset Management, a real estate company and asset manager, controlled by Värde and created in 2017. Construction of the tower began in the third quarter of 2019 and is expected to be completed in the third quarter of 2022.

Värde's General Manager, Héctor Serrat, states that "the purchase of the land at the end of 2017 reflected our long-term conviction in the 22@ district and in Barcelona's strength as a destination for international business, a market that continues to show solid fundamentals and remarkable absorption of high-quality offices. We have a long track record of investing in the Spanish real estate sector across different asset classes, and we remain focused on development and asset management opportunities with which we seek to create value for our investors."

Dospuntos also owns other land in the Parc Central area where other projects will be built. Construction of a second office tower with a gross leasable area of 23,000 square meters will begin imminently. The General Manager of Dospuntos Assets Management, Alfredo Laffitte, assures that "the construction of One Parc Central is at the forefront of a major transformation in the 22@ district, and we are pleased that our project's commitment to ESG sustainability criteria has been recognized with LEED Gold and WELL Silver ratings. The purchase by DWS demonstrates the attractiveness of the project as we begin construction of the second office tower."