Henderson Park has sold the 743-bed purpose-built student accommodation (PBSA) currently under construction in 22@Barcelona, the city’s innovation district. The project has been sold to Commerz Real Capital Management Company acting on behalf of the Commerz Real Institutional Smart Living Europe Fund. A sales price was not disclosed.
Henderson Park and Hines acquired the project in August 2018 and have subsequently progressed the development, which is on target to be operational in time for the 2022–2023 academic year. Once complete the accommodation will comprise 20,000 square meters (215,000 square feet) above ground, and 6,079 square meters (65,433 square feet) below, with a capacity for 743 students. The project will be managed by Hines’ property management team, via its aparto brand.
The eight-story student accommodation building includes 2,500 square meters (26,909 square feet) of exterior gardens, 1,800 square meters (19,375 square feet) of amenity space a