DWS has acquired a €128m office tower in Barcelona from Värde Partners.

Värde said it has agreed the forward sale of its One Parc Central office development in Barcelona to the asset manager. The sale was agreed through Dospuntos Asset Management, a Värde’s real estate company in Spain.

The 23,500sqm One Parc Central office development is located in the 22@ region in Barcelona. Construction of the 14 storey building began in the third quarter of 2019 and is expected to be completed in the third quarter of 2022.

Héctor Serrat, managing director at Värde Partners, said: “The land purchase in late 2017 reflected our long-term conviction in the 22@ region and Barcelona’s strength as a destination for international business, in a market that continues to show fast absorption of high-quality office space.

“We have a long history of investing in Spanish real estate across different sectors, and remain focused on opportunities to develop and manage assets where we can seek to create and unlock value for our investors.”

Alfredo Laffitte, director general of Dospuntos Asset Management, said: “The One Parc Central construction is at the forefront of a major transformation in the 22@ area, and we’re pleased the development’s ESG features have been recognized with LEED Gold and WELL Silver ratings.

“The purchase by DWS demonstrates the attractiveness of the project as we begin construction of the second office tower.”

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