A residential joint venture between Barings and Spanish developer Salas has acquired three new land plots for an unspecified amount.
The partnership has bought the assets in the Barcelona metropolitan area, comprising two plots in Gavá and an industrial site in Terrassa’s historic Industrial Freixá, on behalf of their residential joint venture, which targets €150m deployment across the Spanish residential market.
The Gavá plots are expected to deliver 278 apartments along with over 2,300sqm of retail space. The second industrial Freixá site in Terrassa, is a flagship urban regeneration project for 67 new homes.
The latest acquisitions follow the joint venture’s launch in July 2024, which included a 41-unit residential project in Tiana that is currently under construction.
José Carlos Torres, managing director and country head Iberia at Barings Real Estate, said: “Partnering with experienced and reputable developers like Salas is central to our strategy.
“These acquisitions reinforce our commitment to delivering high-quality residential developments that meet the evolving needs of Spanish households. With demand far outpacing supply in key regions like Barcelona and Madrid, we see significant opportunity for long-term value creation.”
Gunther Deutsch, managing director and head of European transactions at Barings Real Estate, said: “The residential sector remains one of Europe’s most attractive growth areas and one in which we have deep conviction across a range of sub-sectors, such as build-to-sell, build-to-rent, and purpose-built student accommodation depending on the market and particularly for new build assets.”
Deutsch said Barings aims to invest over €1bn into the residential sector alone in 2025, adding that this would be “in addition to our commercial real estate investments”.
The firm plans to “further expand” its use of developer joint ventures, which currently span the Nordics, Italy, the UK and Spain with Salas, Deutsch added.
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