Borja García-Egotxeaga, Managing Director at Neinor Homes
Renta Garantizada is a company which has been involved in the Spanish housing market for 25 years and has more than 2.500 dwellings across the country. With this operation Neinor Homes intends to develop a rental platform which will incorporate not only BTR services, but also rental management to private individuals.
For Neinor this acquisition is part of the strategic plan designed by its rental division – which together with the Promotion and Servicing lines –, will be in charge of Renta Garantizada’s low rentals portfolio, as well as the 1.200 dwellings portfolio which will be developed by Neinor Rental, resulting in a current portfolio of around 4.000 units which will gradually increase in the coming years, according to the company.
With this acquisition, Neinor Homes will consolidate its BTR business, which the company had announced at the start of the year, and it will develop a new activity of managing the finished product. Thus, the developer will be covering the entire Build to Rent value chain, from terrain purchase to managing the dwellings.
Borja García-Egotxeaga, managing director at Neinor Homes stated that «this is a strategic operation which will allow us to consolidate our position as market leaders and to boost our rental business».
Jordi Argemí, deputy managing director, added that «Renta Garantizada’s experience and track record will allow us not only to build and use their assets, but also to manage them, taking maximum advantage of this deal and its ability to grow».