Tuesday, November 24, 2020
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Metrovacesa Sells 200 Rental Homes in Mallorca to AEW

All the homes are located in the Balearic capital, which highlights the interest from institutional investors in other locations beyond Madrid and Barcelona.

The Terrasses de Llevant development in Palma de Mallorca (one of the projects sold to AEW).

Metrovacesa has closed the sale of two turnkey developments to a real estate fund managed by AEW, comprising 203 homes in total. Specifically, the two residential developments will be located in Palma de Mallorca and are expected to be completed in 2023. Uría Menéndez and TC Gabinete Inmobiliario have participated as advisers to the transaction.

Following this operation, Metrovacesa will develop the two projects and AEW will manage them as rental homes. In this way, the property developer is responding to the growing demand for new-build housing for rental operators, thanks to its expertise in residential development.

Read the full article in Spanish.

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