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Momentum will develop an apartment complex with services if the Junta de Compensación de Valdebebas accepts the proposed offer.
The developer Grupo Ibosa has offered 26.83 million euros for plot 106 in Valdebebas, beating competing bids by Amenabar, Habitat, Premier and Abante Espacio.
The transaction is part of the management plan that Greystar has developed with several companies. The firm will manage Momentum’s units there and around 2,500 units in San Sebastián de los Reyes and Rivas-Vaciamadrid (Madrid region) on Blackstone land.
The cooperative manager has acquired the last plot available for public housing in the sought-after neighbourhood of Madrid through two operations.