Conren Tramway acquires terrain in Barcelona to invest on residential

Conren Tramway acquires terrain in Barcelona to invest on residential

The asset is located at the Eixample neighbourhood of the Catalan capital and it has a 9.226 sqm buildable area, on which the asset management company intends to construct 108 housing units designed by architecture office Alonso i Balaguer, and commercial spaces, according to a release issued by the company. The building’s construction, which will also include a green area, should resume soon and its conclusion is expected for the second quarter of 2022.

Conren Tramway had the legal advice of Cuatrecasas for this operation, the unidentified seller was represented by consultant CBRE.

«This operation represents the market’s first operation to be initiated and concluded during Covid, which is good for the investment market and shows the first signs of reactivation», stated Xavi Güell, in charge of capital markets at CBRE in Barcelona.

This is not the first operation to be carried out by Conren Tramway this year. The first one was the sale of office building Sancho Ávila 65 – which had been acquired in May 2018 – for 56 million euro to French Amundi.

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