In 2017, Hines and German investment company Universal-Investment acquired two prime high-street retail assets with associated office space in Madrid and Barcelona on behalf of the Bayerische Versorgungskammer (BVK) account.

The asset located in Paseo de Gracia 17 is currently Banco Popular’s headquarters in Barcelona. Hines will redevelop the property to deliver a refurbished building offering over 3,000 square meters of prime retail space and 5,000 square meters of Class A office space, making it a unique asset for both retailers and companies alike.