Cuatrecasas advises Commerz Real on buying student accommodation from Henderson Park and Hines

Cuatrecasas advised Commerz Real on buying a site in the 22@ district of Barcelona from Henderson Park and Hines, and where it will build student accommodation.

The transaction, valued at €97 million, was structured through (i) a forward funding agreement with Henderson Park and Hines, and (ii) a management contract for the student accommodation with Aparto (subsidiary of the Hines group). The residence hall is expected to be completed for the start of the academic year 2022-2023. The 743-bed complex, on calle Pallars 433-453, comprises 20,000 square meters above ground and 6,079 square meters below ground.

The team advising on this transaction was made up of Bernat Mullerat, Lluís Puig, Ander Portillo, Lara Vivas and Aina Maragall.