Alkira Living has begun marketing 452 affordable rental homes in central Madrid. The properties form part of Lot 4 of the public-private partnership model promoted by Madrid City Council, awarded to the joint venture formed by Avintia Inmobiliaria and Pecsa Real Estate.
The lot comprises five developments featuring one-, two- and three-bedroom flats, as well as communal areas and leisure facilities. Palatino Residencial will be responsible for the development, while Alkira Living will take on the comprehensive management of the assets, from marketing to tenant support and day-to-day operations.
The project forms part of the first municipal tender to build more than 2,000 affordable rental homes across 11 districts of Madrid. The homes will be rented at prices up to 25% below those on the open market, and the rent may not exceed a housing cost ratio of 35% of household income.
After 45 years of operation, the homes will become part of the municipal public housing stock.
In April, Pecsa Real Estate and Avintia Inmobiliaria signed a strategic agreement with Palatino Residencial, the investment vehicle promoted by Bankinter Investment and Vía Ágora, strengthening their commitment to the affordable build-to-rent segment in Madrid and reinforcing public-private collaboration in the city’s residential market.
