KPMG advises Patrizia in its investment in Barcelona
Patrizia, a leading partner for global real assets, has invested in a portfolio of purpose-built student accommodation (PBSA) in central Barcelona, on behalf of its institutional clients.
With 20,468 sq m of residential space, the portfolio which is income producing from day one consists of two buildings with parking and a total of 635 units. The first building, ‘Marina’, which makes up 538 units, is located in the 22@ district of Barcelona. The second building, ‘Poble Sec’ with 97 units, is in the Sant Antoni area of the city. The assets which were built in 2009 and 2007 respectively, were both fully refurbished in 2017 and boast excellent amenities such as a gym, a lounge, meeting rooms, a lecture theatre and five rooftop swimming pools.
With this acquisition Patrizia has assembled a student accommodation portfolio that is truly pan-European including Copenhagen, Dublin, Hamburg and now Barcelona.
Including this latest investment in Barcelona, Patrizia has acquired over 470 million euro in student accommodation over the last 12 months. The transaction also increases Patrizia’s assets under management in Iberia to over 2 billion euro.
KPMG advised Patrizia on legal and tax affairs with a team comprising partner Carlos Bardavío (pictured left) , Beatriz Ron (senior manager), María Llorens (senior manager), Miguel Muñoz (senior), Pelayo Oraa (partner – pictured right), Felipe Martínez (senior manager), David Pascual (director), Alexandra Sánchez (senior manager) and Victoria Clemente (senior manager).