The platform will build a sizeable portfolio over the medium-term in strong locations across Spain, focused on markets with high rental liquidity principally in Madrid, Barcelona, Andalusia and Valencia. Assets are predominantly acquired vacant and property improvements are made through light refurbishment. The platform strategy involves implementation of platform branding and various technology initiatives to enable efficient management.
Joint-venture with local operating partner to assemble a granular, affordable residential for rent platform focused on Spain’s main economic hubs. The strategy seeks to capitalize on attractive fundamentals underpinning the Spanish rental market including rising household formations, increasing preferences to rent, declining mortgage availability and under-supply of mid-market rental housing. The platform will provide quality, professionally managed and affordable housing.