Spanish homebuilder Aedas Homes has entered the flex living market in Spain with three new projects in Madrid and Valencia.
Partnering with institutional investors, Aedas Homes will have an equity stake in the two co-investment projects. Additionally, it will provide end-to-end development services for these projects through its asset-light Real Estate Services division.
The three projects, totalling over €130 mln, will deliver approximately 900 units with a range of amenities, including outdoor pools, co-working spaces, community rooms, bike parking, and rooftop terraces.
Designed to attract mid- and long-term tenants, these flex living developments will feature fully-equipped units, green spaces, and shared facilities like living rooms, dining areas, kitchens, laundry rooms, and gyms.
David Botín, general manager of real estate services at Aedas Homes, said: ‘We see a great opportunity to scale this line of business by developing this type of product for third parties.’
The projects are situated in well-connected areas of Madrid and Valencia with easy access to transportation, amenities, and business centers.
The Valdebebas project in Madrid is near the airport and Feria de Madrid, while the Valdemarín project is close to Moncloa-Aravaca and the A-6 motorway. In Valencia, the project is a short walk from the port and the Marina de Empresas startup hub.
These flex living developments are expected to welcome their first tenants in 2026 (Valdebebas) and 2027 (Valdemarín and Valencia) and will be managed by leading operators.
Meanwhile, US investment firm Castlelake, is exploring the possibility of selling its controlling interest in Aedas Homes, according to Spanish daily Cnco Dias, citing market sources.
Castlelake currently holds a 79% stake in Aedas Homes, valued at approximately €845 mln.
Due to Spanish market regulations, any potential buyer would be required to make a bid for the entire company.
