Stoneweg and BentallGreenOak (BGO) have formed a joint venture to expand their presence in Spain’s fast-growing flex-living segment, with a planned investment capacity of up to €500 million.
The partnership will focus on the development and acquisition of purpose-built assets aimed at young professionals and corporate users seeking medium-stay accommodation with integrated services. The initiative comes amid sustained investor appetite for alternative residential formats, driven by the structurally limited supply of traditional rental housing.
The JV’s first seed asset is Bext Valdebebas in Madrid, a 583-unit complex developed by Stoneweg alongside M&G and acquired by BGO in October. The transaction, financed by Aareal Bank, marked BGO’s entry into Spain’s flex-living market and paved the way for the new platform.
Stoneweg has been an early mover in the segment, having developed projects such as Bext Vallecas, later sold to GMP. The new venture aims to pursue additional opportunities in core urban locations.
Executives at both firms cite continued conviction in residential demand fundamentals in Spain and see room for growth across the alternative living spectrum, including medium-stay assets that can be operated with institutional standards.
The platform will target scale through a pipeline of new developments and select acquisitions over the coming years.
