Henderson Park, the pan-European private equity real estate fund, and the international firm Hines, have sold a 743-bed student residence currently under construction in Barcelona’s 22@ district. Commerz Real AG acquired this project through a forward funding agreement on behalf of the Commerz Real Institutional Smart Living Europe Fund.
Henderson Park and Hines acquired the complex in August 2018. The project is currently under construction and is scheduled for completion at the start of the 2022/23 academic year. The deal’s price has not been disclosed, although market sources put it at approximately €100m.
The student residence, located between Calle Cristóbal de Moura and Avenida Diagonal, comprises 20,000 square metres above-ground and 6,079 square metres below-ground. The Hines property management team will manage the project through its Aparto brand.
Batlle i Roig Arquitectes designed the eight-storey residence, which features 2,500 square metres of outdoor gardens, 1,800 square metres of leisure spaces and 900 square metres of rooftop terrace, with the aim of achieving LEED Gold and WELL Platinum certification.
Read the full article in Spanish