LaSalle Investment Management and Urbania announce a joint venture to develop a portfolio of living assets in Spain. The first two developments are located within the 408-hectare Parc de l'Alba masterplan in Cerdanyola del Vallés, next to the Bellaterra campus of the Universitat Autònoma de Barcelona (UAB), which is home to more than 30,000 students. The park aims to attract companies from the science, business, technology and consultancy sectors, and is expected to house 30,000 workers.
The first asset, scheduled to open in September 2025, is a student housing project (PBSA) in Barcelona. With construction already underway, the project will feature 610 single rooms with en-suite bathrooms and state-of-the-art amenities, including a rooftop swimming pool, gym, cinema room, study areas and an auditorium, with a Breeam ‘Very Good’ rating.
This project will be the only private student accommodation within walking distance of the Bellaterra campus of UAB, the third highest rated university in Spain, offering medical, law, engineering and business-related degrees. In addition, the project is close to other prestigious university campuses such as ESADE and the Universitat Internacional de Catalunya, with excellent transport links to the centre of Barcelona. Yugo, a leading student accommodation operator, has been appointed as manager.
The second development is a flex living scheme, complementary to the student residence, which will be on an adjacent site and consist of 255 units, with completion projected for the third quarter of 2027. The scheme is designed for academics, researchers, workers and corporate occupiers of nearby workplaces within the Catalonia Innovation Triangle, as well as the UAB Bellaterra campus.
Parc de l'Alba is currently home to multiple companies, including the Alba Synchrotron, one of the largest scientific facilities in southwest Europe, as well as the regional headquarters of leading companies such as Inditex's Stradivarius and engineering and technology group Sener. The flexible rental asset will target a Breeam ‘Very Good’ accreditation and ‘A’ energy rating.
‘We are very pleased to see the commitment of major investors such as LaSalle and Urbania to Parc de l'Alba, which demonstrates the success of the design and development of this innovative park. We are sure that the projects to be developed by these companies will significantly boost the consolidation of the park and the implementation of leading companies’, says Agustí Serra, director of Incasol, owner of the land and developer of Parc de l'Alba.
Blake Loveless, Managing Director of LaSalle's European Value-Add Investments, explains: ‘This project is an exceptional example of LaSalle's value-add strategy, which continues to focus on student housing, urban housing, retail recovery, distribution and special situations. Spain is an important market for us, and we are delighted to expand our presence here with Urbania to provide affordable housing for students and young professionals.’
Jeffrey Sújar, managing partner of Urbania Living, adds: ‘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 standards of living. Every aspect has been meticulously planned to foster an enriching experience that supports students, academics and other professionals in reaching their full potential. Collaborating with LaSalle on this flagship project is a source of immense pride for us.’
‘Europe's leading universities, such as those close to this project, continue to attract a diverse range of local and international students, which strengthens the student accommodation sector in the region. Barcelona, in particular, represents a great opportunity for investors in this sector, given the resilience and varied sources of demand from multiple top-ranked universities,’ concludes Amroy Lal, Vice President of Value-Add Investments in Europe at LaSalle.
