BC Partners Real Estate and its Spanish partner FREO Group (“FREO”) today announced the successful sale of Gran Via de les Corts Catalanes 764 (“Monumento”), a landmark 13,400 sqm Class A office building in the centre of Barcelona, Spain. The transaction marks the completion of the value-add repositioning and leasing strategy launched following the asset’s acquisition in November 2022.
After acquiring the property, BC Partners Real Estate executed with the help of FREO a comprehensive transformation, repositioning Monumento as a modern, ESG-driven office building. Key elements of the refurbishment include a redesigned lobby and common areas, upgraded façades and glazing, newly configured office floors, and enhanced tenant amenities such as an on-site F&B offering and a rooftop terrace with panoramic views over the city of Barcelona. The asset is targeting LEED Platinum and Fitwel 2 Stars certifications, positioning it among the most sustainable and contemporary office buildings in Barcelona’s city centre.
The business plan attracted strong leasing momentum, with the building nearly fully occupied by first-class international tenants, reflecting the upgraded design, enhanced amenities, and strengthened sustainability credentials.
Laurian Douin, Partner at BC Partners Real Estate, said:
“Monumento is a clear illustration of our value-add capabilities: identifying assets with untapped potential, elevating them through targeted investment and rigorous ESG enhancements, and delivering an institutional-grade product to the market that is attractive to demanding occupiers and core investors. We are really pleased with the quality of the transformation achieved and the successful execution of this project, ahead of our plans.”
Ignacio Pareja, Managing Director at FREO Group Spain, added:
“This project showcases the depth of our collaboration with BC Partners Real Estate and our shared commitment to creating high-quality, resilient workplaces in key European cities. Monumento now stands as a flagship office asset in Barcelona’s city centre, and we are delighted with both the process and the outcome.”
Uría Menéndez advised BC Partners Real Estate and FREO on the transaction.
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About BC Partners Real Estate
BC Partners is a leading investment firm with approximately €40 billion in assets under management across private equity, private debt and real estate strategies. Founded in 1986, BC Partners has played a significant role in the evolution of the European buyout market for nearly four decades.
BC Partners Real Estate, launched in 2018, operates as a fully integrated platform within BC Partners. Its debut fund, BC Partners European Real Estate I (BCPERE I), raised over €900 million and has invested across France, Germany, the United Kingdom, Spain and Italy, targeting value-add opportunities in office, industrial, hospitality, living, and mixed-use assets.
About FREO Group
FREO is an international real estate investment, development and asset management group established in 1996. With approximately €2 billion of assets under management, FREO is internationally present with offices in Germany, France, UK, Spain and other selected markets in Central and Western Europe. FREO’s headquarters are in Luxembourg with additional principal offices in London, Paris, Frankfurt, Berlin, Munich, Hamburg, Dusseldorf, Cologne, Madrid, Barcelona and Zurich. The company employs a team of over 80 highly qualified real estate and finance professionals, experienced in the areas of asset management and leasing, development, debt, equity and transaction structuring and fund management.
FREO has been present in Spain since 2015 with offices in Madrid and Barcelona, it employs 10 highly qualified employees and has invested in the country approximately €1.2 billion.