In 2023, Hines' European Real Estate Partners Fund III (HEREP III) acquired a 21,000 square metre tower with a hotel licence in Esplugues de Llobregat, in the Porta Diagonal development area.
The tower, which is 100 metres high, will house 526 rooms. It will have a range of communal facilities including a roof terrace with swimming pool, study areas, communal kitchens, a cinema, gymnasium and all rooms will have their own private terrace.
The future asset will offer flexible accommodation comprising studios, shared rooms and one and two-bedroom flats, all designed for stays of varying lengths. Its target audience will be students, young professionals and workers at the nearby Sant Joan de Déu Hospital.
In this way, the tower will form part of the transformation of the Barcelona skyline, located between Finestrelles, Esplugues de Llobregat, near the campuses of the Polytechnic University of Catalonia and the University of Barcelona, and the ESADE and IESE business schools.
The asset will be managed by Hines' international student residence platform, aparto. Once constructed, the building aims to achieve BREEAM Excellent and Well Silver certification.
Delivery is scheduled for 2025.