Pan-European investment manager Primevest Capital Partners has signed its second acquisition in the Spanish residential market.
On behalf of a German pension fund, Primevest has acquired a residential property of 6,500 square meters (69,965 square feet) containing 90 units near the marina of Valencia for approximately €18 million ($20 million). The vendor is Hierros y Corrugados Ribarroja S.A., a subsidiary of the construction group Grupo Bertolín S.A. The project is set to be delivered in fourth quarter 2024.
The project is located on the corner of Calle Vicente Brull and Calle Museros in Valencia. It will comprise two buildings with 90 residential units and a basement parking garage with 58 parking spaces. Both buildings will have several chill-out areas, a swimming pool and children’s playground on the roof deck, as well as storerooms and a bicycle shelter in the basement. In addition, each building will provide space for a gym and co-working. The property will
