PATRIZIA AG, a leading partner for global real assets, has acquired a EUR 74 million residential turnkey project in Barcelona, Spain, located in the desirable Sant Joan Despí suburb on a 26,000 sq m constructed area.
Upon completion in 2022, the site will deliver 208 mainly residential units with some retail space in one of Barcelona’s most vibrant suburbs, known for its excellent transportation links and high standard of living.
PATRIZIA’s Iberian property portfolio now totals over EUR 1.3 bn AUM and the residential segment represents 15%.
From the very beginning of its company history, PATRIZIA has been active in the residential space. The company currently has funds and mandates of over EUR 11.5bn in the residential sector and has transacted EUR 12bn in the segment over the last six years alone. Including all segments, PATRIZIA executed EUR 9bn in transactions in 2019.
Source : Company