• The project, divided into two phases, has been acquired in its entirety by the German asset management firm DWS for 80 million euros and will comprise a total of 210 housing units.
• This second phase, meanwhile, will feature a total of 142 homes, built on a 16,500 m² site and comprising 2-, 3-, and 4-bedroom units with a garage, storage rooms, and common areas that include a swimming pool, gym, and coworking spaces.
• The project is located in La Marina del Prat Vermell, an urban redevelopment area in Barcelona with great potential, where a total of 10,800 apartments—including both market-rate and affordable housing—are expected to be built over the next ten years.

October 18, 2022 — Culmia, one of Spain’s leading real estate developers, is delivering the second phase of Vila Bonaplata, its first “Build to Rent” project in La Marina del Prat Vermell (Barcelona). The project, which has been divided into two phases, has been acquired in its entirety by the German asset management firm DWS, on behalf of one of its funds, for 80 million euros and will comprise a total of 210 residential units.

For its part, this second phase has been sold for 44.4 million euros and consists of 142 homes, including 2-, 3-, and 4-bedroom units, which will complement those already delivered in the first phase in March. In total, the built area will reach 16,500 square meters.

The residential complex offers parking, storage units, and common areas that include a swimming pool, a gym, and coworking spaces. It is also located next to an office building—currently under construction and also owned by Culmia.

Several industry players have been involved in the project: FCC served as the general contractor, the architectural firm L35 was responsible for the design, and Bialto will manage the real estate complex.

It is worth highlighting the value of La Marina del Prat Vermell, an area in Barcelona undergoing urban redevelopment with great potential, where a total of 10,800 apartments—including both private and public housing—are expected to be built over the next ten years. The area is home to major business districts (Plaza Europa and La Fira), green spaces (Montjuïc), and excellent connectivity to downtown Barcelona via the metro, several bus lines, and direct access to the Ronda del Litoral by car.

In the words of Francisco Pérez, CEO of Culmia, “This transaction demonstrates Culmia’s commitment to promoting ‘Build to Rent’ housing— one of our key areas of focus alongside the ‘Build to Sell’ segment and affordable housing—and to facilitating access to housing in major cities such as Barcelona, where we are expanding our area of influence.”

For his part, Manuel Ibañez, Head of Real Estate Iberia at DWS, adds, “With the acquisition of this second phase, we are completing our first ‘built-to-rent’ project in Spain. With the first phase already nearly 100% leased and exceeding our expectations, we are proud to contribute to the redevelopment of Marina del Prat Vermell. As part of our rental housing strategy in Spain, we have several projects underway in different locations and continue to focus our efforts on expanding our portfolio.”

With this transaction, Culmia positions itself as one of the leading developers in the sector in the comprehensive management of residential projects and reaffirms its presence in Barcelona, an area of paramount importance for its business operations and where it is consolidating its presence.