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AXA Investment Managers buys 216-unit residential development in Barcelona
Transactions - SEPTEMBER 20, 2019

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AXA Investment Managers buys 216-unit residential development in Barcelona

by Released

AXA Investment Managers – Real Assets has acquired, by way of a forward-purchase agreement and on behalf of clients, two phases of the Marina Living residential development in Barcelona for €77 million ($85 million).

Hermann Montenegro, local team head, Iberica and Italy at, AXA IM – Real Assets, said, “This ambitious project will deliver significant new supplies of high-quality residential stock to the Catalonian market, which is characterized by compelling supply demand drivers. We are confident in the long-term return profile of this opportunity for our clients, thanks to the combination of our local market expertise and the project’s well-connected and desirable location that benefits from increasing occupier demand in line with local regeneration and supportive underlying market dynamics.”

The site has been acquired from Stoneweg, a real estate services and management company active across Europe and the United States, which will continue to act as the

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