Real assets fund manager Stoneweg is expanding its Spanish office portfolio after securing a new site in Barcelona’s 22@ district for a €50m development.
Stoneweg, alongside Nova Providence Capital, has secured the prime development site through a Stoneweg-managed vehicle, with plans to construct the 18,500sqm office tower.
The seven-storey office building, located on Bolivia Street in Barcelona’s urban renewal area, is scheduled for completion in 2029, Stoneweg said.
The latest development adds to Stoneweg’s previous activity in the 22@ district, where it completed the Luxa office project in 2016.
Jaume Sabater, co-founder and CEO of Stoneweg Group, said: “Through this investment, Stoneweg continues to demonstrate its ability to identify long-term structural trends and create value through high-quality real estate developments in urban markets supported by strong underlying fundamentals.
“The transaction also reinforces the firm’s commitment to Barcelona, a strategic market where it has a long-standing and significant presence across the logistics, residential and hospitality sectors and where, through its Experiences division, it is developing landmark projects such as the Carmen Thyssen Museum and the Godó i Trias factory redevelopment.”
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