CBRE IM acquires acquires state-of-the-art Badalona Port residential scheme in Barcelona

CBRE Investment Management has acquired a state-of-the-art residential scheme in Barcelona from Spanish real estate developer Culmia. The acquisition of Badalona Port was made through a forward-purchase on behalf of a fund sponsored by CBRE IM. Financial terms were not disclosed.

Badalona Port is composed of two buildings offering two-, three- and four-bedroom apartments. The residential scheme will provide 129 high-quality apartments and terraces with panoramic views of the sea and marina, as well as a communal rooftop swimming pool on each building. The homes will be energy-efficient, fitted with photovoltaic panels and aerothermal energy.

The gross internal area for residential units will amount to 10,891 square meters (117,229 square feet), with 1,889 square meters (20,333 square feet) for communal areas and 1,378 square meters (14,832 square feet) for retail space.

CBRE IM said the scheme will target young professionals, families and senior citizens and als