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Invesco Acquires Land to Develop in 22@

The fund will develop a turnkey project with a gross leasable area of 9,090 m2 and seven floors.

The American fund Invesco Real Estate has acquired a plot of land in Barcelona’s 22@ district from the Canadian group LCI Education. Invesco will develop a turnkey building that it will lease for 25 years to the educational company. The building will be house a design school, with a capacity for 2,000 students. Colliers advised the seller.

Plans are for the school to have seven floors and 9,090 square metres GLA (gross lettable area). The project’s sale will provide LCI Education with an injection of liquidity that will enable it to continue its operations, Colliers revealed.

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