Barings in partnership with Spanish residential developer Salas has completed the acquisition of three strategic land plots in the metropolitan area of Barcelona, comprising of sites in Gavá and Terrassa’s historic Industrial Freixá. The acquisitions mark a significant milestone for the joint venture, which is aiming to deploy €150 million ($175 million) in Spain’s residential sector.
The Gavá transaction comprises two plots in an area south of Barcelona, where the future development will deliver 278 apartments, extensive amenities such as a swimming pool and landscaped green areas, as well as more than 2,300 square meters (24,757 square feet) of retail space. The site benefits from excellent connectivity just 20 minutes from Barcelona city center and 10 minutes from the beach, with a new train station planned adjacent to the premises. The scheme is designed to achieve a minimum EPC A rating and BREEAM certification, reflecting Barings’ commitment to sustainability
