Global investment firm Partners Group and Spanish real estate specialist Medan have secured three purpose-built BTR and flex-living assets for their Madrid rental platform.
These purpose-built developments, totaling nearly 1,000 units, were purchased for €200 mln.
Located in Alcalá de Henares, Torrejón de Ardoz, and a southern Madrid municipality – all facing a rental shortage – these acquisitions strengthen the existing partnership between Partners Group and Medan, initiated in 2021 and focused on BTR and flex-living strategies.
The traditional multifamily units will be managed under the Nuva Home brand while flex-living options will fall under Nuva Flex.
Mario Andrés, managing partner of Medan, commented: ‘Our strategy puts tenants at the forefront of what we do, designing and developing products in response to evolving ways of living. From traditional multifamily to alternative flex living assets, we recognise that living is not a one-size-fits-all market. By integrating our operations with Nuva Living, we pick up on these trends and continuously improve on our know-how.’
Dietmar Weissmann, member of Management, Partners Group, added: ‘By acquiring these three assets through forward purchase structures, we minimize execution and operational risks. At the same time, we maximize liquidity by creating brand new assets in a segment that has increasing occupier and investor demand.’
Anne-Jan Jager, co-head Real Estate Europe, Partners Group, commented: ‘The residential sector in Spain, and in Madrid in particular, benefits from resilient domestic growth, increasing international investment, and positive net migration.’
The platform invests in both apartment buildings and flexible living arrangements, prioritizing greenfield projects with strong ESG credentials and aiming for a minimum BREEAM Very Good and Fitwel certifications.
