The French investment bank Natixis has lent 100 million euros to Neinor Homes. The listed developer will use the funds to finance build-to-rent projects in Corredor del Henares, Madrid, Bilbao and Malaga.
The capital is configured as a developer loan with a 5-year term and an interest rate of 2%-2.5% per annum.
The French financial institution has followed Santander, BBVA, CaixaBank and Sabadell, which have already lent 300 million euros to Neinor Homes for turnkey residential rental projects.
In five years, the company headed by Borja García-Egotxeaga wants to build a stock of 5,000 rental homes. The 400 million euros it has received from the banks represent 70% of the capital needed to carry it out. With these funds, the firm can develop 3,500 homes.