Värde Partners has agreed the forward sale of its One Parc Central office development in Barcelona to DWS for €128 million ($155 million).
The sale was agreed through Dospuntos Asset Management, a Värde-controlled real estate company in Spain, formed in December 2017 following its carve-out from the residential developer Vía Célere.
Located in the 22@ region in Barcelona, the 23,500-square-meter (253,000-square-foot) office tower forms part of the city’s major urban transformation project, which seeks to establish a new technology and innovation hub in the former industrial area of Poblenou. Construction began in third quarter 2019 and is expected to be completed in third quarter 2022.
“The land purchase in late 2017 reflected our long-term conviction in the 22@ region and Barcelona’s strength as a destination for international business, in a market that continues to show fast absorption of high-quality office space,” said Héctor Serrat, managing
