HIES buys the Banco Sabadell tower and will transform it into a sustainable office building

HIES buys the Banco Sabadell tower and will transform it into a sustainable office building

El comité de dirección de Banco Sabadell ha dado luz verde esta semana a la oferta vinculante presentada por Hines para comprar la emblemática torre de la entidad financiera en la Avenida Diagonal de Barcelona. Tras meses de negociaciones bilaterales, Sabadell ha aceptado desprenderse del edificio por un importe que oscila entre los 80 millones y los 90 millones de euros, según han confirmado fuentes conocedoras de la operación, adelantada por Cinco Días. La venta, sin embargo, todavía no está cerrada, porque antes debe ser ratificada por el consejo de administración del banco, que se reunirá a mediados de este mes.Hines compra la Torre Banco Sabadell y la transformará en un edificio de oficinas sostenible Hines compra la Torre Banco Sabadell y la transformará en un edificio de oficinas sostenible

If it is finally approved, the transaction will generate important surplus value for the financial entity, which was made with the property of the 22 plants office tower in 2003, when buying the old Atlantic Bank.In parallel, the divestment will allow to generate recurrent cost savings and increase the efficiency of the entity, which will now concentrate all its central services in Catalonia in the corporate center that it has in Sant Cugat del Vallès.Sabadell's move, in fact, is practically culminated, since during this last pandemic year the majority of departments that were in the tower have already been transferred to Sant Cugat.

The sale price negotiated by Sabadell incorporates the assessment of a very important contract clause for the bank: the entity has shielded to be able to practically indefinite its corporate brand at the top of the building, so the property will continue to be associated withbank.In addition, Sabadell will continue to occupy the ground floor, the first floor and the 22nd floor, the highest, which will now be occupied in rent and that will allocate representative functions and institutional acts.

HIES's objective is to submit the property to comprehensive rehabilitation, to adapt it to the current quality standards demanded by the offices rental market.In this sense, the transformation project will focus on reconverting the tower in a sustainable building that meets the highest certificates in environmental environment and energy efficiency.

Hines compra la Torre Banco Sabadell y la transformará en un edificio de oficinas sostenible

Most likely, once rehabilitated, the new offices are drawn to the market to be occupied in a rental regime by multiple companies interested in establishing themselves in the heart of the city.The tower thus returns to its origins, since when it belonged to the Atlantic, other companies were also like tenants.One of the great attractions that this new real estate offer developed by HIES will offer will be the spectacular views that can be seen from the tower plants, located in a privileged position of the Eixample.

Sabadell will keep his main office on Barcelona on the ground floor.On the first floor will follow the direction of the Territorial of Catalonia and also private banking equipment.The 22nd floor will be maintained, which will perform institutional representation functions and will house offices so that they can be used, for example, by the president, Josep Oliu, or by the Entity CEO, César González-Good, when they are in Barcelona.On the contrary, the bank follows from the rest of the plants, now almost empty, among which are the third, which currently hosts the board of directors, and the fifth, which houses the auditorium in which Sabadell has madetraditionally its press conferences and multiple business and corporate acts.One of the departments that has already moved entirely to Sant Cugat last summer is marketing and communication.

The Diagonal Mar promoter

With the purchase of the Banco Sabadell Tower, Hines reaffirmed its commitment to invest in Barcelona, a city where one of the most transformative real estate developments in the city promoted: the construction of the Diagonal Mar residential complex, completed in 2001 and includes five towersof homes, a shopping center, three offices towers, three hotels and a convention center and a large park.

Founded in 1957 by Gerald D.HIES in Houston, the American investment firm operates globally in 240 cities from 27 countries, with assets under management of 160.900 million dollars.In Europe, its asset portfolio is valued at 26.300 million euros, in countries such as Austria, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Poland, United Kingdom and Spain.

Currently, in Barcelona Hines is the owner of other emblematic buildings such as the Mediacomplex complex, which houses the headquarters of the Mediapro group and the University P0MPEU Fabra, diagonal 177, near Glòries.This is a building that acquired in 2018 and has 32.000 square meters.Another of its jewels in the city is the property located at number 17 of Paseo de Gracia, the former headquarters of Banco Popular, for which it paid 90 million in 2017.The building was totally transformed and Hoyacoge the Nike flag store in the Catalan capital and Coworking offices of the Wework multinational.

HIES also has two important projects in the [Email Protected], the district that concentrates the attention of the large real estate funds.This is the Diagonal T3 complex, which will be the first wooden building built by HIES and the Henderson Park real estate in Europe.In parallel, also with partners, HIES promotes in Cristóbal de Moura street - in the so -called [Email Protected] Norte - two student residences and an offices complex with a buildable 30.770 square meters.