There is a new joint venture looking to invest in the build to rent market. The Swiss asset manager Partners Group is joining forces with the Spanish financial group Dunas Capital to invest 400 million euros.
They are looking to use the capital to build a portfolio of 1,500 rental homes over the next five years. With this goal in mind, they seek to address the lack of supply and high market demand with quality, low-risk and diversified housing.
The vehicle for the joint venture, Nuva Living, will invest in residential properties, mainly in Madrid. It will also allocate part of the capital to other cities such as Barcelona, Valencia and Malaga.
Nuva Capital will add to its portfolio projects in progress or developments already completed and rented, i.e. private rented sector and build to rent. At the moment, it already has 200 homes in Madrid.