Spanish property group Urban Input has announced plans to launch a dedicated residential rental platform to provide strategic asset management for investors.
Called Bialto, the platform will seek to ‘offer a sustainable alternative to home ownership, as opposed to overly expensive, highly-managed options’, the company said.
Bialto’s assets will offer amenities including workspaces for tenants who have adaptable working arrangements, as well as the exclusive community services such as gyms, swimming pools, smart lockers, and green areas, which are part of the enhanced lifestyle offering.
Bialto will also be the rental asset manager of the assets developed by Urban Input in joint venture with German asset manager DWS. The fund manager announced last year that it was teaming up with Urban Input to build up a BTR portfolio in Spain. So far the two partners have managed to put together a pipeline of around 1,600 units located in Madrid and Barcelona, due to be completed between 2021 and 2023.
Howard Pierce, partner at Urban Input Group commented: ‘These are exciting times for the launch of Bialto, a journey which we started in 2019. Working together with DWS we have been able to consolidate an excellent pipeline. Much of this sector is new to all players and we hope to be able to contribute by adding high quality but affordable stock to the PRS market.’
Raul Blasco, director of Bialto said: ‘We are at the beginning of a long-term trend towards more professionalized residential rental, coupled with ever more demanding residents, who want a seamless experience at the touch of a button. At the same time, we want to combat creating buildings isolated from their surrounding communities of which they form a part of. That is the exciting challenge for the Bialto team and our future residents.’
