REInvest acquires sustainable office development in Barcelona

REInvest acquires sustainable office development in Barcelona

Luxembourg-based real estate investment firm REInvest Asset Management has forward purchased a sustainable office development located in Barcelona’s innovative 22@ district from Glenwell Group.

The completion of the building is planned for late 2024. At that point, the property will be transferred to the portfolio of the Dereif Scav-Fıs pan-European investment fund.

The property is being built in wood hybrid construction and offers around 11,000 sq m of lettable space over the ground floor and six upper floors. The basements will offer plenty of parking spaces for cars, motorbikes and bicycles. The location at the corner of Carrer de Pamplona and Carrer de Pujades, next to the Bogatell Metro Station, ensures superb public transport connections.

Upon completion, the building will be certified LEED Platinum, WELL Platinum, PAS 2060 Carbon Neutrality, WiredScore Gold and SmartScore Gold.

“This project is truly special, not only because of its excellent location in Barcelona’s innovation district, but because of its particularly sustainable construction method, with forward-looking ‘smart building’ features. The certifications we are currently seeking will serve to bolster the level of ESG focus in the portfolio. The property therefore fits perfectly within our investment strategy in all respects”, explains Daniel Hohls-Larsson, Head of International Transactions with responsibility for this project development at REInvest.

David Sánchez, CEO at Glenwell Group Iberia, comments: “We are delighted to be entrusted with the execution of this innovative project, which initiates a new concept of office buildings with the highest sustainability certifications that we are promoting with the INSPIRE label, name that will also be given to this asset. We expect this building to become a reference of the real estate of the future, leading new sustainable certifications and providing a strategic district in Barcelona with a significant step forward in its innovation objectives. INSPIRE joins other projects in the area such as Green Business District, reinforcing our presence in Barcelona, Catalonia and Spain as a leading company in urban transformation.”.

The 22@ district, also known as 22@Barcelona and Districte de la innovació, is an urban development in Barcelona’s former Poblenou industrial zone in the Sant Martí district. This initiative by the City of Barcelona commenced in 2000 with the aim of transforming a 200-hectare industrial site into a productive and innovative quarter within the district. The 22@ district is already home to over 500 companies in the media, IT, energy, design and scientific research sectors.