A year after creating an alliance with the French investment group Primonial, the Spanish group Lar has decided to go a step further to become a leading manager in the rental housing market.
Its first move has been to create a portfolio of around 1,800 rental properties in just 12 months. “We have been working on this project for three years. We signed the agreement with Primonial on 22 July 2020, but there was a lot of work beforehand. This year we have been making investments, and we already have around 1,800 homes under construction in 14 provinces”, explains Miguel Ángel Peña, Grupo Lar’s Residential CEO.
After reaching 1,670 homes under construction, Grupo Lar expects to end the year with 2,000, thanks to some imminent operations. “The joint venture is for six years, where the first three years are for investment.”