Spain: LaSalle Investment Management and Urbania have formed joint venture partnership to develop a portfolio of living assets in Spain.
The first two transactions are situated within the 408-hectare Parc de l’Alba masterplan in Cerdanyola del Vallés, adjacent to the Universitat Autònoma de Barcelona (UAB) Bellaterra campus, which hosts more than 30,000 students. Delivery of the masterplan is underway, aiming to attract businesses within scientific, commerce, technology and consulting sectors, with the expectation to accommodate 30,000 workers.
The first asset, scheduled for opening in September 2025, is a PBSA project in Barcelona. With construction already underway, the project will feature 610 single en-suite rooms with amenities including a rooftop swimming pool, gym, cinema room, study areas and auditorium.
The project will be the only privately owned student accommodation scheme within walking distance to the UAB Bellaterra Campus, the third ranked university in Spain, offering degree specialisms including medicine, law, engineering and business. The project is also close to other university campuses such as ESADE and Universitat Internacional de Catalunya. Yugo has been appointed as manager.
The second development is a flex-living scheme that will sit on an adjacent land plot and consist of 255 units, with completion projected for Q3 2027. The scheme is designed for academics, researchers, key workers and corporate occupiers from nearby commercial hubs within the Catalonia Innovation Triangle as well as the UAB Bellaterra Campus.
The Parc de l’Alba masterplan is currently home to multiple companies including the ALBA Synchrotron, one of the largest science facilities in south-western Europe, as well as the regional headquarters of leading companies such as Inditex’s Stradivarius, and engineering and technology group Sener. The flex-living asset will offer flexible accommodation for short, medium, and long stays and target a BREEAM ‘Very Good’ accreditation and an EPC ‘A’ rating.
Blake Loveless, head of value-add investments, Europe, at LaSalle, said: “This venture is an exceptional example of LaSalle’s deep value equity strategy, which continues to focus on student housing, urban accommodation, retail recovery, distribution, and special situations. Spain is a big market for us, and we are excited to expand our presence here alongside Urbania to provide affordable accommodation to students and young professionals.”
Jeffrey Sújar, managing partner of Urbania Living, added: “Our mission is to create the next generation of student accommodation and flexible living facilities. This exciting project embodies our commitment to environmental sustainability and exceptional living standards. Every aspect has been meticulously planned to foster an enriching living experience that supports students, academics and other professionals in achieving their fullest potential. Collaborating with LaSalle on this landmark project is a source of immense pride for us.”
