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Henderson Park, Hines sell student accommodation project in Barcelona

29/03/2021
Henderson Park and Hines have sold the 743-bed purpose built student accommodation (PBSA) currently under construction in Barcelona to Commerz Real Capital Management Company acting on behalf of the Commerz Real Institutional Smart Living Europe Fund.

Henderson Park and Hines acquired the project in August 2018 and have subsequently progressed the development which is on target to be operational in time for the 2022/23 academic year.

Once complete the accommodation, Pallars, will comprise 20,000 square metres above ground, and 6,079 square metres below, with capacity for 743 students. The project will be managed by Hines’ property management team, via its aparto brand.

The 8-storey student accommodation building in Barcelona’s 22@ district has been designed by architects Batlle i Roig, with 2,500 square metres of exterior gardens, 1,800 square metres of amenity space and 900 square metres of roof terrace with the aim to achieve LEED Gold and WELL Platinum certification.

Cushman & Wakefield and Garrigues advised Henderson Park and Hines on the sale of the property.
 

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