Mitsubishi Estate London and Europa Capital plan to invest 鈧�40m in the development of a new 125,000sqft office building in Barcelona, Spain.
The duo have acquired a 0.8-acre development site on Carrer de Crist贸bal de Moura in central Barcelona from a private seller for an undisclosed sum.
Yuichiro Shioda, managing director and CEO of Mitsubishi Estate London, said: 鈥淏arcelona is an established and growing business location, and we have long been interested in investing and developing in a city that holds great potential.
鈥淏y partnering with Europa Capital, we can draw on its considerable development expertise, and position ourselves for similar projects in major centres.鈥�
The latest project builds on the existing relationship between the two companies.
Mitsubishi Estate is Europa Capital鈥檚 principal shareholder and the two companies are currently assembling a portfolio of commercial development properties in Europe through a separate vehicle.
