July 25, 2014 / 8:47 AM / 3 years ago

Spain's Colonial says bid for Realia unit worth 650 mln euros

MADRID, July 25 (Reuters) - Spanish property company Colonial said on Friday it has presented a 650 million euro ($874 million) non-binding offer for the Realia Patrimonio unit of debt-burdened real estate peer Realia.

In a regulatory filing, Colonial said the offer for the unit, which manages and leases offices and retail centers, is subject to a series of conditions, including the sale of certain non-strategic assets and obtaining financing. ($1 = 0.7435 Euros) (Reporting by Tracy Rucinski; Editing by Paul Day)

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