Savills IM and Greystar have teamed up on the acquisition of a 455-home rental residential asset in Madrid for around €150 million.
Located at Calle de Leganés 11 near Atocha railway station, the asset was developed by Acciona and will operate under Greystar’s new Nera Living brand. It comprises 455 rental apartments, including studios, one-bedroom and two-bedroom apartments, over 13 floors.
Following this transaction, Savills IM will manage a portfolio of almost 1,000 rental properties in the Spanish market. In 2023, the company also acquired two properties in the Sky Homes project in Valencia from Neinor Homes for an investment of €66 million.
The Madrid asset comprises more than 28,000 square meters of floor space, of which more than 21,000 square meters is taken up by the 455 homes that make up the property. The remaining 7,000 square meters is distributed across a broad variety of communal spaces, including a swimming pool, a coworking area, a cinema, a games area, green spaces and a fully equipped gym.
Source: propertyeu.info on the 5th of December