• Transaction / Assets
  • Seller
    Eurostone
  • Buyer
    AEW
  • € MM

AEW Invests in Residential Rental Market in Barcelona

10 July 2019 – Richard D. K. Turner

The flood of money that led to a spike in prices for rental housing in Madrid has now reached Barcelona. The German firm AEW has just purchased a building at Via Augusta 59 in Barcelona for an undisclosed amount. The company previously announced that it was looking to begin operations in Spain’s residential housing market.

The property is mixed-use, residential and commercial, and is located in the district of Sarrià-Sant Gervasi, just 500 meters from Avinguda Diagonal, Barcelona’s main thoroughfare. The building is located next to the Gràcia metro stop, in a sought-after area.

The Edificio Mercurio, as it is known, has about 11,500 square meters of surface area. Eurostone, which had acquired the asset two years before, had begun major renovations which will result in a total of 91 flats on nine floors, along with three commercial premises.

Original Story: El Confidencial – E. Sanz

110