Kronos Investment Group, the Madrid-based developer of residential projects across Spain and Portugal, is tipped to launch a new Iberia real estate fund as it rebrands the business.
The company officially changed its name to Kronos Real Estate Group this week - six years after establishment. It currently manages around 70,000 units in Spain and Portugal and has executed more than €16 bn of deals since 2014.
According to sources, it is aiming to raise equity for Kronos Iberian Real Estate Fund IV. This is the sequel to Kronos Real Estate Fund III, which closed on €210 mln in 2019.
Talking of its rebrand, the company said it reflected an ‘evolution’. Nowadays, Kronos Real Estate Group operates three divisions: Kronos Homes, Stay (which is a Build to Rent platform), and Way, which focuses on commercial and leisure space.
It said the new branding reflected ‘the real impact of Kronos’ actions’, where investments ‘transcend their own financial condition and are transformed into tangible real estate assets in new neighbourhoods capable of generating not only economic wealth but more prosperous cities through responsible urban planning, architecture and a diverse retail offer’.
Kronos Real Estate Group has sometimes partnered other companies to make investments. For example, in 2021, it teamed up with Nuveen Real Estate to purchase two plots of land in Madrid for its Stay business.
