DWS has expanded its residential portfolio in Spain with the addition of a 1,763 home affordable housing portfolio in Madrid.
The manager said, together with residential manager Bialto, it has acquired the portfolio comprising 12 plots located in the municipalities of San Sebastián de los Reyes, Tres Cantos, Alcorcón, Alcalá de Henares and Getafe.
Financial details were undisclosed.
All the homes are currently in the leasing phase, with most projects reaching occupancy levels between 98% and 99%.
The acquisition is a result of a 2023 agreement between DWS and residential developer Culmia to develop an affordable housing portfolio in Madrid.
Manuel Ibáñez, head of real estate Iberia at DWS, said: “The success of these developments demonstrates that collaboration between public authorities and the private sector is essential to ensuring access to decent housing adapted to the realities and needs of citizens.
“We are also deeply grateful for Culmia’s role in this project and for the institutional support of the Administration of the Madrid region, whose commitment has been instrumental in advancing solutions that combine innovation, sustainability, and social responsibility.”
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