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Metrovacesa SA has signed a EUR 200 million turnkey development and sale agreement with Atrea Real Estate for two office buildings. The transaction includes a 26-storey office tower and a six-storey office block. The project already holds a valid building permit, enabling construction to commence shortly. Metrovacesa will develop the assets and deliver them to Atrea upon completion, which is scheduled for 2029. The deal reflects Metrovacesa's continued use of forward-sale structures to manage risk and ensure exit visibility in large office developments.
Metrovacesa SA has entered into a turnkey development and sale agreement with Atrea Real Estate for two office assets, with the total transaction value set at EUR 200 million, according to information disclosed by the company through a regulatory filing referenced by Reuters. Advertisement
The agreement covers a large-scale office project comprising a 26-storey tower and a separate six-storey office building. Under the structure of the deal, Metrovacesa will be responsible for developing the project and delivering the completed assets to Atrea Real Estate upon completion, a model increasingly used by developers to secure upfront visibility on exits.
The project has already secured the necessary building permit, allowing construction activities to begin in the near term. The development is scheduled to be completed in 2029, indicating a multi-year construction timeline aligned with large urban office developments.
Metrovacesa has been actively using forward-sale and turnkey formats in recent years to reduce development risk, strengthen cash flows, and optimise capital allocation, particularly amid cautious institutional demand for office assets across European markets.
Source Reuters
5th Jun, 2025
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