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 Paseo de Gracia 17 site was formerly home to the headquarters of Banco Popular and has been comprehensively redeveloped by Hines to create 3,000 square meters of prime retail space and 5,000 square meters of Class A office space. Flexible office space provider WeWork occupies the office space in the building and Nike occupies the ground floor and basement retail levels, as well as the mezzanine and a rooftop area.
The development is located at the crossroads between Paseo de Gracia and Gran Via de les Corts Catalans, in the heart of Barcelona's main business and tourist district, and home to the city's major flagship retail stores.