CG Capital Europe has closed a Forward Sale Transaction of a BTR Residential development in Barcelona city (Project Beatrix I), within its Residential JV with a reputed local developer and constructor of Barcelona.
This Transaction represents the first closed deal of this Residential JV for Barcelona deals, aiming to mitigate the rental housing deficit in the province of Barcelona.
The transaction’s team combines a broad professional background, with numerous synergies across all phases of a real estate development (financing, equity raising, licensing, construction, leasing, maintenance, etc). Together, we accumulate over 90 years of experience in real estate and corporate finance sectors, with an excellent track record of over 150 residential developments executed and €2,200 million of commercial real estate assets transacted in recent years.
This Transaction consists in the development of a residential building located at Nou Barris district, in the city of Barcelona. It includes 12 residential dwellings and a commercial unit.
The acquiror of Project Beatrix I, through an Innovative Forward Purchase Agreement, is a highly reputed Spanish Family Office. The Residential JV Team will execute the entire development, financing and management of the Project, from the design to the leasing of dwellings and retail unit.
Within this BTR Residential area, we are currently analyzing very actively more opportunities to execute investment and development projects in the coming months.