Monday, May 10, 2010

Barclays Seeking Sale Leaseback of 34 Bank Branches in Spain - May 6, 2010

Barclays have put up another Spanish commercial property investment portfolio for sale and leaseback, this time of 34 bank branches.

The bank has a network of 586 branches throughout Spain and has been selling many of these over the last few years. In 2008 it sold 24 branches to Redevco in a transaction reported at €65m. The bank also sold a unit in Paseo de Gracia, Barcelona some 12 months ago for around €20m. Colliers International acted in one of the last portfolio sale and leaeback transactions for nine Barclays bank branches around Spain towards the end of 2009.

The largest transaction recorded by for Barclays in the Spanish real estate investment market took place in 2006 for a price of around €115m. This was for the office investment building located at Calle Mateo Inurria, Madrid, Spain.

According to sources close to the transaction the current offering is the last Spanish property investment transaction which Barclays intend to undertake this year. Jones Lang LaSalle have been given the exclusive mandate. Sphere: Related Content

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