Beraunberri, investment group of José Galíndez, and Onchena, investment vehicle of the Ybarra Careaga family, have closed a preliminary agreement with the investment fund Angelo Gordon and with Talus Real Estate for the acquisition of the Bizkaia Tower. After the operation, which will be closed definitively in the coming weeks, the new owners will give entry to groups of interested investors. Sources from the real estate sector consulted by Europa Press encrypted the value of the property in a range that ranges between 165 and 175 million euros.
In a statement, José Galíndez and Álvaro Ybarra, president of Onchena, have affirmed that the purchase of this emblematic Bilbao building is a “good operation, which presents interesting profitability ratios”. “A decisive factor for the closing of the operation has been that the building has solvent tenants with contracts long-term leases that make the investment very attractive”, they added.
The tower, located on Bilbao’s Gran Vía, has 21 floors and 88 meters high and was the headquarters of the Banco de Vizcaya. Currently, and after the sale of the property by BBVA to the investment fund Angelo Gordon and Talus Real Estate, the building has as tenants the Provincial Council of Bizkaia, the Irish multinational Primark and BBVA itself.