Catella Asset Management has acquired a build-to-rent project in Valencia from Spain's AQ Acentor for EUR66 million.
The Alfambra development comprises two buildings with 281 homes in total, and is situated within the AQ Turianova project in the city of Valencia. It has already been granted a First Occupancy License (LPO).
Alfambra is the second development that AQ Acentor has sold to Catella, following the deal closed in Villaverde in Madrid for 171 BTR units in 2019.
AQ Acentor will be responsible for bringing the homes to market, which come with a parking space and storage room, as well as communal areas with gardens, paddle tennis courts and swimming pool.
Alfambra is the first of six developments that the developer is building within AQ Turianova. AQ Acentor is developing 1,200 of the 2,300 homes that will comprise the new neighbourhood.
Covering an area of roughly 380,000 m2, it will be located by La Nueva Fe Hospital and will also include a large urban park and Infinity by AQ Acentor - Spain’s largest retail project under development - as well as other services. Grupo Bertolín is overseeing the building works.
Source: propertyeu.info on the 3rd of May