Metropolis buys Diagonal 123 from BFO, the Bernat family's property company, for 55 million euros

The building, which offers exceptional views over Parc Central, was designed by the prestigious French architect Dominique Perrault with a balanced and elegant play of architectural volumes that conveys an image of great dynamism, giving energy and movement to its office spaces.

This unique building is one of the most emblematic in the area where Avenida Diagonal meets the 22@ District, the area with the highest demand for offices in the city. The area, in constant urban improvement, has successfully positioned itself as a new technological and innovation centre where the main rental and investment operations in Barcelona have been concentrated.

Following the purchase, Metropolis will undertake an exhaustive process of renovation and repositioning of the asset that will include the redesign of its common spaces and the implementation of improved quality and sustainability standards. All this taking into account the new paradigm that envisions a more flexible work environment, which enhances the experience, the feeling of belonging and collaborative spaces. The company's objective is to provide the best response to companies and the talent that makes them up, which, in the current context, are eager to return to the office, 

Diagonal 123 is currently BREEAM GOLD certified and offers 10,170 sqm of office and retail space together with 240 parking spaces and spacious terraces. The property, which was partially occupied by Vodafone until a few months ago, was developed by Hines and acquired by BFO in 2010. As of today, the property has an occupancy rate of around 50%.

The acquisition follows the largest capital increase in the history of Metropolis and the incorporation of new shareholders. In this way, the company consolidates its strategy of growth, diversification and internationalisation. In a context in which operations in international markets have been severely limited by the pandemic, the group has opted to continue growing in 22@, a district that stands out for the proliferation of quality buildings and the large presence of international investors. It also shares characteristics with other sites in Hamburg, Düsseldorf, Berlin, London and Paris, which are also dominated by global occupiers with knowledge economy activities and where Metropolis has previously acquired properties.
 
Bernat and Metropolis have been advised in this transaction by Jones Lang Lasalle, Cushman & Wakefield, TBA Facilites, Cuatrecasas and Deloitte Legal. The transaction was financed by CaixaBank.