Neinor Homes sells Madrid BTR asset to Harrison Street and DeA Capital

Neinor Homes sells Madrid BTR asset to Harrison Street and DeA Capital

Neinor Homes has sold a 146-unit build-to-rent (BTR) asset in Madrid, Spain to a joint venture between Harrison Street and DeA Capital.

As part of the agreement, Neinor will retain the management of the asset over the next year through its operating company (OpCo), Renta Garantizada.

The asset was fully completed in Q2 2023 and will be commercialized under the name Soto Rental Homes.

The asset is located in San Sebastian de los Reyes, a highly consolidated urban area with excellent accessibility by metro and stands at only 10min from the Barajas international airport while being close to wide array of services such as Hospital Universitario Infanta Sofia, several retail assets such as the Plaza Norte Shopping Centre or The Style Outlet, the business park of Arroyo de la Vega or the European University.

The modern complex is divided in two identical buildings with a total of 146 units, of which 30 lofts, 68 two-bedroom and 48 three-bedroom apartments. The asset offers comprehensive amenities with a swimming pool and vertical gardens, a state-of-the-art gym, dedicated playground areas and a gastrobar for tenants to use.

The asset was developed with sustainable building standards in mind fulfilling the strict criteria of the EU Taxonomy and has been being assigned an EPC A label. Furthermore, the asset is expected to be awarded the prestigious BREEAM® in use rating once it starts to be operated.

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