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What February 2023 turned out: the best offers and news from the real estate sector

February was a busy month for real estate companies.

Some names stand out, such as Sareb, with the CNMC agreement to buy the remaining 10% of its developer, Árqura Homes; Euroval acquiring the French company Galtier FI (asset valuation services); Scan Global Logistics (SGL) and CVC Capital Partners Fund VIII (CVC), which have merged (CVC buys a majority stake in SGL from an investor group led by Investors Small Business Private Equity). 

Pollen Street funds bid to buy services companies Finsolutia and Haya Real Estate; Nuveen Real Estate unveiled its first pan-European value-add strategy after raising initial commitments of €175m; Neinor launched an offer to partially buy back its green bonds up to €100m; Pontegadea backed out of a deal to buy Meta's Dublin headquarters and Caixabank granted Torre Rioja financing of €268.5m with a 10-year structure to boost its liquidity.

Retail

Notable transactions in the retail sector in February included the sale of Carmila's four shopping centres in Andalusia for €75 million; the purchase of the Quadernillos Alcalá de Henares shopping centre (Madrid) by Proudreed Spain and BPN Capital Partners, or the €15 million investment by Klépierre in the renovation of the Maremagnum shopping centre in Barcelona, or private investors to buy more than 1.5 million shops in San Sebastián.

In addition, IKEA has fitted out more than 2,500 square metres in the centre of Barcelona, and MVGM will manage and market the León Plaza shopping centre.

Logistics

In February, Corum acquired a Goodman warehouse in Tarragona for 22 million euros; Heylen Warehouses acquired land in Illescas to build a 15,000 square metre warehouse, while Panattoni sold an 11,000 square metre warehouse in Gipuzkoa to Echemar.

Among the latest rentals: Analin rents a logistics facility of 5,459 square metres in Valencia; Flex, more than 11,400 square metres in Getafe; Recalvi and Pick & Pack, two modules of the logistics platform in Madrid; the logistics platform of almost 20,000 square metres in Picacent (Valencia) is rented by Danish Jysk; Frigicoll rented a warehouse of 23,000 square metres in Tarragona. In addition, the Zona Franca Consortium in Barcelona has leased land from Nissan to Goodman.

Offices

Office activity continued in February. The Mutualidad de Arquitectos bought the Ilunion Torre Mízar headquarters for EUR 36 million, while building 106 in Francisco Silvela (Madrid) was sold to the Mutualidad de la Abogacía; Zurich sold three office buildings in the centre of Barcelona.

Among the new office rentals in Madrid, Shiseido moved into a 3,138 square metre space in Pozuelo with Merlin Properties; Bridgestone Mobility Solutions rents 2,200 square metres of office space in the 22@ Barcelona building; Linde Gas España occupies an office in the Eixample district of Barcelona. 

In addition, Basic-Fit has opened offices and a fitness centre in rented premises in Malaga; in Valencia TMEIC Port Technologies has taken 1,000 sqm of office space in the CV15 building, while in Riva (Madrid) IWG has opened more than 1,200 sqm of new coworking space.

Hotels

Serras Collection in Seville has acquired a new luxury hotel in a RetailCo. Apollo Global Management in Tenerife acquires Hotel Las Aguilas. Also making headlines are the new part of the L&H hotel chain, a new hotel next to the Callao Cinemas in Madrid; a hotel at Alicante airport - the future project of Hampton by Hilton.

And finally, residences

In Madrid, companies such as Culmia, Avintia, Pecsa and Vía Ágora, which bought more than 2,000 homes; City Partners Visio Fund, which sold a residential building to Incus Capital; Argis, which invested 40 million in the purchase and refurbishment of a building. In Barcelona, Vandor Real Estate took a step forward and bought a building in Barcelona's Eixample for 4.8 million.

Barcelona City Council has acquired two buildings in the Eixample for social rental; Nestar (Azores) has incorporated 128 BtR homes in Alcalá de Henares; Ktesios has bought 52 low-cost rental homes from Unicaja; and Batipart has bought a building with 32 rental flats and two homes in Malaga.

Insur invested 61 million in the province of Seville where 311 new homes were built; Neinor Homes invested more than 35 million euros to develop 81 homes in Las Rozas (Madrid); Diglo sold 120 properties in Pamplona and Segovia for 29.7 million dollars and Aedas opened 106 properties in Laredo (Cantabria); Gestilar and DWS created a new rental project worth 30 million in Valdebebas (Madrid). 

In future projects and land acquisition, Metrovacesa invested 24 million euros in its new project in Almeria, another 15 million for the purchase of land in Granada, another 22 million for 120 houses and 5 properties in Valencia, another 12.8 million were spent on 60 houses in Cordoba. Also Grupo Pinilla and Tiuna Inmobiliaria land to create a residential area in Puerta de Hierro. Grupo Fogesa and Único Homes invested 12.5 million in a plot of land in Móstoles and bought land for another 100 homes in Los Berrocales.

Also in February, Madrid City Council earmarked 1,000 homes in El Cañaveral for affordable rentals for young people; Raquel Sánchez signed an agreement to build 688 social rental homes; negotiations between Sareb and the Generalitat Valenciana to sell 500 properties for social rentals for 50 million; Ayuso's real estate strategy for the next legislative assembly was announced; and the proposals of Unidas Podemos: restricting the purchase of housing for non-resident foreigners.