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Bain and FREO to develop Barcelona office space

Bain Capital Credit and FREO Group have acquired the Estel Building on Avenida de Roma, in central Barcelona and plan to develop 47,000 sq m of offices.

The 14-storey Estel building, one of the most recognisable buildings in Barcelona, is located in the city’s Eixample district and was originally developed as the headquarters of Spanish national telecommunications company Telefonica.

Bain Capital and FREO will develop the Estel building to provide Grade A office space, as well as retail and dining amenities. The project has been designed to appeal to a range of occupiers by providing flexible floor plates.

Tenant amenities will include an auditorium, meeting rooms, gym, sports and entertainment rooms  and the building will have two large roof terraces, providing views over the city.

The project will also aim to achieve the highest sustainability and ESG standards including a Leed Platinum certificate.

“As the largest Grade A office building in Barcelona, Estel will set a new standard in high-quality and sustainable workspaces and will provide prospective tenants with futureproof and state-of-the-art amenities to ensure the building retains its appeal with future generations,” FREO managing director Oscar de Navas said.

Bain Capital now owns office, residential and leisure-led hospitality assets in Spain worth more than €2.3bn.