Henderson Park, the pan-European private equity real estate firm, and Hines, the international real estate firm, announce that they have sold, through a $36.2 million forward funding agreement, the Carrer Veneçuela 108 development in Barcelona’s 22@ innovation district, to Perial Asset Management.
Henderson Park and Hines acquired the site in 2018 as part of their purchase of a larger land plot on which they are also constructing a 750-bed purpose-built student accommodation. The sale follows the signing in September 2019 of a 15-year prelease agreement with the Toulouse Business School to build it a new Spanish headquarters.
Construction of the over 93,000-square-foot building commenced in July this year and with delivery to the Toulouse Business School expected by mid-2022. The 10-story building, which will have capacity for around 1,000 students, has been designed with the highest quality assurance standards, targeting a LEED Gold or Platinum and WELL certification. Hines will remain as the delegated developer until completion of the building.
Located between street Cristóbal de Moura and Avenida Diagonal next to the new ‘aparto Diagonal Mar’ student residences which Henderson Park and Hines are constructing and expecting to deliver in time for the 2022/23 academic year, the site benefits from a prominent position in Barcelona’s 22@ district and is just 15 minutes’ walk from nearby university campuses. 22@ is one of the key innovation districts in Europe and is already noted for its excellent connectivity with the rest of Barcelona and the city center, as well as a number of successful regeneration projects that are already underway or have recently been delivered.
Source : Hines