Bestinver's real estate assets division, owned by Acciona, has launched its first investment vehicle Smart Living Properties, under a listed real estate investment company ('socimi') structure with a capital of 150 million euros to invest in "new housing formats adapted to new needs and lifestyles".
According to the company, the vehicle will invest across the entire residential spectrum in Spain, including student residences, 'flex living' and 'senior living'. With the initial capital, it expects to make between 10 and 15 investments.
Bestinver Activos Inmobiliarios has signed an agreement with SmartRental Group, a company specialising in asset management in the hotel and alternative residential sectors, which will collaborate in the repositioning and operational exploitation of Smart Living Properties' assets.
The 'socimi' already has the former Hospital Xeral de Galicia building in Santiago de Compostela in its portfolio, which it acquired on the second semester of 2023. This building will now be transformed into a "new generation" student residence, a type of product "to date non-existent in the Galician capital". Bestinver plans to announce new investments in the coming months.
Enrique Sánchez-Rey, Bestinver's director of real estate funds, indicated that "the impact of various structural changes, of a demographic, cultural and economic nature, that we are facing as a society is leading to a major transformation in the residential real estate sector".
Faced with this paradigm shift, "we are faced with a unique investment opportunity in new flexible and segmented formats that accompany people through the different stages of their lives".
In addition to the Real Estate division, Bestinver also has products in two other areas of investment in private markets launched in recent years: Bestinver Infraestructuras, with the Bestinver Infra, FCR fund; and Bestinver Private Equity, with the Bestinver Private Equity Fund, FCR.
