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.

In Madrid, the property located on Calle Preciados / Maestro Victoria comprises two adjacent buildings, Preciados 13 and Maestro Victoria 5. Calle Preciados is the busiest pedestrian street in Madrid, and with a combined area of almost 5,000 square meters.