CBRE Investment Management Acquires Prime Residential Portfolio in Barcelona’s Core Metropolitan Area

September 15, 2022

La Marina Barcelona

Associated Contact

Helen Stott

Corporate Communications Director

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Madrid – 15 September 2022 – CBRE Investment Management (“CBRE IM”), on behalf of a fund sponsored by the firm, has acquired a portfolio of two residential assets currently under construction in Barcelona and Badalona. Developing the portfolio is one of the main real estate developers in Spain, Culmia.

Culmia Barcelona comprises two assets in La Marina and Badalona, totaling 566 homes, of which 36% are destined to become affordable housing, and ancillary retail space accounting for less than 10% of the scheme.

Barcelona La Marina is a state-of-the art residential scheme that will offer new homes with a range of amenities to a full affordability spectrum, targeting a wide audience from young professionals to families and seniors. It is located 1.5km away from Gran Via de les Corts Catalanes, in the marina area, and residents will benefit from many shops, restaurants and bars in the surroundings and good public transport connections.

Badalona Gorg is located in an emerging high-end residential area close to the new recreational canal in Badalona to be completed in 2023. It is expected to attract high-income residents by offering a complete set of amenities. Badalona, the fourth largest city in Catalonia, is located immediately to the north-east of Barcelona. It has excellent private and public transport connectivity, positioning it as a touristic and long-term stay destination in previous years given its long beach and abundant leisure activities.

Antonio Roncero, Head of Transactions for Iberia at CBRE Investment Management, said: “This acquisition was a rare and exciting opportunity to secure a grade A under-development residential portfolio with strong ESG credentials through an off-market process. While the demand for rental properties is increasing, stock availability is exceptionally low, making it an extremely attractive segment for investors. This deal will enable us to gain scale in a very undersupplied market in a reasonable timeframe, with a product that stands out in terms of quality, specifications and design.”

CBRE IM has been advised by Savills, Pérez Llorca and ARQ. Culmia advisors were CBRE and Ashurst.

About CBRE Investment Management

CBRE Investment Management is a leading global real assets investment management firm with $146.9 billion in assets under management* as of June 30, 2022, operating in more than 30 offices and 20 countries around the world. Through its investor-operator culture, the firm seeks to deliver sustainable investment solutions across real assets categories, geographies, risk profiles and execution formats so that its clients, people and communities thrive.

CBRE Investment Management is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE), the world’s largest commercial real estate services and investment firm (based on 2021 revenue). CBRE has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE Investment Management harnesses CBRE’s data and market insights, investment sourcing and other resources for the benefit of its clients. For more information, please visit

*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Investment Management provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Investment Management’s presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers and from its calculation of regulatory assets under management for purposes of certain regulatory filings.