CaixaBank finances Glenwell Group to construct office campus in Barcelona’s 22@ district

Cuatrecasas lawyers have advised Caixabank on granting real estate financing in the format of a forward purchase to Glenwell Group, so it can construct and develop the Z Green Oasis campus. The project involves the developing of a new office campus in the prime area of Barcelona’s 22@ district, which has been sold to CBRE Global Investors.

Designed by well-known architectural studio BCA, Z Green Oasis (total office area of 15,439m2) includes three new buildings alongside three renovated modernist warehouses. The complex is expected to be finished in the third quarter of 2023. The innovative complex is a pioneer in urban regeneration thanks to over 5,000 m2 of green space and outdoor terraces. It will have LEED Gold and WELL Gold certifications, and the highest sustainability standards.

This transaction reinforces confidence in the Barcelona office market in the medium term and shows the interest of international capital in the new developments in the 22@ district.

The team handling this transaction was led by Manuel Follía, partner of Cuatrecasas Banking and Finance Practice, together with associate Víctor Utges. Lawyers specializing in real estate and public law Bernat Mullerat and Aina Maragall also participated.