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Kronos & Nuveen Join Forces to Construct 5,000 Build-to-Rent Homes in Spain

The American fund Nuveen and Kronos have created a joint venture called Stay to build 5,000 build-to-rent homes in Spain in which they will invest 1 billion euros over five years.

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The investment group Kronos and the investment manager Nuveen Real Estate have launched a platform called Stay to build a macro portfolio of 5,000 homes in Spain for rent (build-to-rent).

The project will be completed over five years in cities such as Madrid, Barcelona, Valencia and other large cities across Spain. In this joint venture, Kronos will be the minority investor and will construct the buildings through its property developer Kronos Homes. The initiative will result in a portfolio worth 1 billion euros and the project will generate 12,000 direct and indirect jobs for the sector.

Read the full article in Spanish.

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