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Metrovacesa Joins Forces with Magno Living to Expand its BTR Offer Beyond Madrid & Barcelona to Debut in Sevilla

The property developer is going to build the units, which will then be managed by the company jointly owned by the North American fund Harrison Street and the Italian manager DeA Capital.

Jorge Perez de Leza Metrovacesa 1 1 1

Metrovacesa is growing in the Build to Rent (BTR) segment. A week after reporting record results (which will allow it to distribute the largest dividend in its history), the listed company is maxing out its strategy in this segment to move beyond Madrid and Barcelona. And it is doing so with a project comprising 172 turnkey homes in Dos Hermanas (Sevilla) and in conjunction with Magno Living, a joint venture owned by the North American fund Harrison Street and the Italian manager DeA Capital.

Under the terms of the agreement, Metrovacesa will develop the homes and Magno Living will manage them as rental properties. Dos Hermanas, a city adjacent to the Sevillian capital, is one of the places with the greatest real estate activity in the country. In particular, the Entrenúcleos district is one of the districts with the most new-build properties in 2022.

Read the full article in Spanish.

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