Patrizia negotiates the purchase of a Build to Rent project consisting of 140 dwellings for rent on Juan Ignacio Luca de Tena street in Madrid. The residential development is spread over 9,200 sqm.
The German fund could acquire this asset, owned by a joint venture between Invesco and Barba Grupo, for a value of around 50 million euros, as reported by El Economista.
The works on the project, which is now licensed, are expected to begin shortly. Likewise, the delivery of the units is expected to happen in mid-2023.
On the other hand, Patrizia is negotiating the acquisition of a residential portfolio for rent from BeCorp for an amount of 800 million euros. The operation is expected to close in the coming weeks.
Specifically, the German fund will acquire more than 2,000 dwellings for rent in various locations in the metropolitan area of Barcelona. Among these properties, there are built-to-rent promotions completed and under development.
The company has 1,450 million euros in assets in Spain. As for its residential portfolio, it has 250 million spread over 60,000 sqm.
