Real estate investors Stoneweg Spain and BGO have teamed up to invest €500m in Spanish residential projects.
The pair have launched a joint venture to develop a living-sector platform to capitalise on the “strong demand for residential solutions and the shortage of new projects” by promoting flexible and sustainable living solutions in prime locations.
Stoneweg’s recently inaugurated Bext Valdebebas complex, which has 583 units including studios and one and two-bedroom apartments, will serve as the first asset for the joint venture.
Javier López Galdos, managing director at BGO, said: “We continue to invest in the living sector in Spain as we see room for growth across the different segments, given the clear structural housing deficit in the country. We are delighted to join forces with Stoneweg, a clear leader in the living sector in Spain, and we look forward to continuing to execute on the strategy together.”
Joaquin Castellví, co-founder, CIO of Stoneweg, said: “This alliance with our partner BGO marks a decisive step in consolidating our leadership in the living segment in Spain, having been one of the first investors to bet on this market.
“Stoneweg has a strong conviction and commitment to the living sector in Spain, driven by the need to provide housing solutions that combine quality, sustainability and flexibility, aligned with new urban lifestyles.”
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