The international real estate firm Hines has chosen Barcelona for its first foray into Spain in the student residence segment. The investor will manage the project through Aparto, its student accommodation platform born in the United Kingdom, with which it works in 16 residences in eleven European cities. With its first residence in Barcelona, Aparto will be present in four countries: Ireland, Italy, Spain, and the United Kingdom.
The new Aparto Barcelona accommodation will open next September, in the heart of the 22@ district, offering 743 places for students. The residence is governed by a flexible model between double rooms, single rooms, or studios, for medium and long-term stays, from a few months to a whole year, and with all-inclusive rates. Hines has not reported the investment made in this project.
The Aparto Barcelona Pallars residence, at numbers 433-453 of Pallars street, is owned by Commerz Real, a subsidiary of the German bank Commerzbank, which acquired the property from Hines and Henderson Park, through a forward funding agreement, in March 2021. According to market sources, the operation was close to 100 million euros.
Designed in a 26,000 square meter space by the Catalan architecture studio Batlle i Roig, a pioneer in landscape architecture, the residence includes an outdoor swimming pool (43 meters long), a 900 m² rooftop terrace, 2,500 m² of gardens, including the Butterfly Garden (named for the type of plants that attract butterflies), the Aroma Garden (for the mix of aromatic plants), 1,400 m² of leisure spaces including a gym with a weight room, cardio and yoga studio, two cinema rooms, recreational areas, and a bar offering food and drink services.
Regarding social and welfare services within the community, Aparto Barcelona Pallars includes a mental health program available to all students throughout the year, reinforced by the accommodation platform's employees who receive training in this area to identify anyone who may need help.
"The Aparto Barcelona Pallars center is a true reflection of today's students' current demands in terms of facilities, services, commitment to the community, and wellness programs. We have already successfully demonstrated that this innovative model is in high demand in Italy, Ireland, and the United Kingdom, and we anticipate it will have the same success here in Spain," explains Tom Rix, UK Operations Director at Aparto.
The platform considers Barcelona as the gateway to this segment in Spain, where it plans to extend its business model, based on "creating places where students feel at home living in a strong community," according to the company.
In this regard, Aparto highlights its focus on culture and arts. A characteristic it has included in Barcelona with an initiative where street artists will design some of the building's paintings.