18 September 2019 – AXA Investment Managers – Real Assets has acquired the Marina Living development in Badalona, just north of Barcelona, from Stoneweg for 77 million euros. The 28,000-m2 development, which will have 216 two- to four-bedroom rental homes, will be inaugurated in 2021.
The project is located on the Badalona seafront, next to the Barcelona’s 22@ district. The inhabitants of the area and people who work nearby will get priority to increase the number of long-term tenants.
The acquisition is AXA’s third major transaction in Spain’s residential real estate market since 2018.
Original Story: Expansión – Rocío Ruiz
Adaptation/Translation: Richard D. K. Turner