AEW lands mixed-use property in Barcelona

AEW has completed the forward purchase of a mixed-use retail/residential property in Barcelona, Spain, on behalf of a German pension fund. The acquisition represents the AEW’s first residential investment in Spain. A purchase price was not announced.

The property, located at 59 Via Augusta in the Sarria-Sant Gervasi district of Barcelona, totals approximately 11,500 square meters (123,800 square feet), is currently undergoing a renovation. Upon completion, the building will feature 91 residential units and up to three retail units over nine floors.

Earlier this year, AEW acquired a 10,500-square-meter office property in Barcelona. The firm opened its Spanish office in Madrid in January 2017.