Patrizia has added a €74m residential development in Spain to its Iberian property portfolio.
The manager said it has bought the residential turnkey project in Barcelona, located on a 26,000sqm constructed area.
The project which is expected to complete in 2022, will deliver 208 mainly residential units with some retail space.
Eduardo de Roda, country manager for Patrizia in Spain, said: “This acquisition further enhances our already strong position in the Spanish market and is testament to our extensive local knowledge and the ability of our team to source projects that deliver strong returns for our institutional investors.”
Residential now represents 15% of Patrizia’s €1.3bn Iberian property portfolio.
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