CBRE Investment Management (CBRE IM) has acquired a residential asset in Quart de Poblet, Valencia, on behalf of a fund sponsored by the firm.
CBRE IM bought the property from Corebridge Real Estate Investors. The financial details were not disclosed.
The asset comprises 147 apartments across two buildings, with a total residential area of approximately 16,966 sqm, alongside ancillary retail, parking and storage. Completed in 2022, the scheme is fully leased and benefits from modern construction standards, CBRE said.
The asset is located in Quart de Poblet, a 20-minute metro ride from Valencia city centre, and has so far attracted a diverse tenant base including families, young professionals and key workers.
Hilke Nijmeijer, senior portfolio manager at CBRE IM, said: “This acquisition reflects our continued focus on securing affordable, high-quality residential assets that offer resilient, income-driven returns for our investors. The asset benefits from a strong occupancy profile, supporting stable, inflation-linked cashflows.
“Combined with Valencia’s strengthening fundamentals, we believe this investment is well positioned to deliver attractive risk-adjusted performance over the long term.”
Antonio Roncero, head of transactions, Iberia at CBRE IM, added that Spain’s residential sector “continues to demonstrate compelling fundamentals, particularly in cities such as Valencia where population growth and urbanisation are driving sustained rental demand”.
Kevin Reid, global COO and head of Europe for Corebridge Real Estate Investors, said: “This transaction reflects the continued execution of our strategy to create value through thoughtful capital deployment, disciplined development management, relentless focus on operations, and optimal exit timing. The strong institutional interest in this asset underscores the appeal of well-located, high-quality residential developments across Europe.”
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