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Fund buys a plot in BCN tech-district
Real estate investment fund Corestate focuses on student housing in Barcelona. The fund has bought a site in the Pallars street, in the technological 22@ district.
The fund is planning to construct a complex of 257 apartments and a co-working space here. The project is part of the Corestate growth plan for Spain. Residencies are also being built in Seville, Valencia and Salamanca. In total, the fund invests 230 million in Spain. The student complex in Barcelona is expected to open its doors in 2022.
Growing demand
Corestate responds to the growing demand for student residences in the Catalan capital. According to the fund, the city has around 170,000 students, including a large number of foreigners. Moreover, Barcelona is one of the most popular cities to study according to the QS ranking. At present, the student housing supply in the city does not meet current quality standards and Corestate wants to respond to this.
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