DWS has acquired two residential developments across Spain for almost €100 million ($118 million) on behalf of its German retail and institutional real estate funds, in two off-market transactions. The developments are located in Ensanche de Vallecas (Madrid) and in the metropolitan area of Barcelona. Practical completions are expected in first half 2023.
“Both areas represent attractive and emerging micro-locations given their ongoing urban development. As the first residential acquisitions in Spain, they provide regional diversification in line with our funds’ strategy,” said Matthias Naumann, CIO of European real estate at DWS.
Upon completion, 320 residential units, each with car park and storage room, will be delivered, along with high-quality facilities including swimming pools, paddle tennis court, gym, co-working areas and playgrounds. Both locations benefit from existing public services, such as hospitals and schools, with significant additional publi
