Savills' Spanish platform has signed an agreement to integrate B Capital Partners' property management business, called Medasil, into its property management division.
As a result, the combined team will manage 5,000 units in the Build to Rent (BTR), flex living, and coliving sector, making it a leader in property management in Spain.
Medasil is one of the first managers of rental residential properties to have been established in Spain, with one of the largest portfolios under management in the country.
Most of the assets are located in Madrid and Barcelona, with some in Palma de Mallorca, Valladolid, and more to come in Malaga, Valencia, and Seville; markets with great growth potential. The 50-strong team has significant experience in managing BTR and other living models.
Jaime Pascual-Sanchiz, Savills Spain CEO, said: 'Two years ahead of schedule, we have achieved the goal we had set ourselves for managing properties in the living sector. We are seeing new ways of living and the need for professionalised management of new housing models is key. With this in mind, we want to be prepared for the medium and long term by providing a unique, comprehensive approach for our clients.'
The agreement by Savills Spain is part of the international real estate advisor’s strategy to strengthen and increase its property and facilities management platform in Europe, following recent acquisitions in the UK, Germany, and Poland.
