Pere Viñolas, CEO of Inmobiliaria Colonial (BME: COL), sat down for a video interview during Nareit’s REITweek: 2025 Investor Conference in New York City on June 2-5.
Viñolas emphasized the resilience and attractiveness of the European office real estate market—particularly in Southern Europe and urban centers. “The more you go South, the better,” Viñolas said, noting Spain and Italy have delivered “fantastic performance” in recent years.
He described a “polarization effect” where downtown areas of major cities like Paris, Madrid, and London are experiencing strong demand for prime office properties, a trend he sees continuing as the sector returns to normal following recent disruptions.
Viñolas also highlighted investor sentiment, noting a shift in interest back toward Europe. “Europe has been neglected...and suddenly in recent months, this changed completely,” he said. He contrasted the European experience with the U.S., explaining that commuting culture and lifestyle differences have made the return to physical office space more natural and widespread across Europe.