Grupo Lar invests €21M in a plot for residential use in Barcelona

Grupo Lar invests €21M in a plot for residential use in Barcelona

Grupo Lar has closed a new operation in Barcelona with the purchase of a plot of 8,504 sqm of buildable area on which 75 homes with 1, 2 and 3 bedrooms will be built, in Sant Adriá del Besós.

The company expects that the units will be completed and made available for rent in the first half of 2024. This development, in which Grupo Lar is going to invest 21.4 million euros, is in addition to the one already being built in L'Hospitalet de Llobregat.

“With this operation, we now have two projects in Barcelona and a total of 161 rental homes. Barcelona is a very dynamic market where we have also identified a shortage of this type of product. For this reason, at Grupo Lar we believe that it is essential to meet this demand by giving access to a quality offer and exploited with a professionalized management that really meets the needs of our future tenants,” says Jorge Pereda, director of the group's residential rental area.

The 75 homes are part of the portfolio of the platform created by the Primonial joint venture and Grupo Lar, which aims to develop and manage, in the long term, 5,000 rental units in the main cities of Spain. This will represent a figure close to 1,000 million euros in assets under management

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