Neinor Homes and Orion Capital Managers (through their fund Orion European Real Estate Fund V), the main shareholder of Neinor with a 27% stake, will create a joint venture to invest in the Spanish build-to-sell (BTS) construction segment. The first step of the agreement will be the acquisition of two plots of land for 20 million euros to build more than 150 new homes, as both firms have communicated.
In this project, Orion will have a 90% stake in the joint venture, and Neinor will own the remaining 10% and act as the managing partner overseeing project design, licensing, marketing, and construction.
Orion and Neinor will continue to explore other investment and development opportunities in the Spanish residential market in the coming months. Alantra has acted as the exclusive financial advisor to Neinor. The co-investment strategy is a key part of Neinor’s business plan announced in March 2023, which emphasizes optimizing its balance sheet and pursuing efficient capital acquisitions. Between 2023 and 2027, Neinor plans to invest around 1 billion euros in new land acquisitions, with half of the funding coming from new capital partners.
Read the original article: https://brainsre.news/neinor-homes-orion-capital-joint-venture-invertir-bts/
