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Pictet and Lasabia Create Joint Venture for Build-to-Rent Projects in Madrid

Pictet Alternative Advisors, the alternative investment division of the Swiss group Pictet, and Spanish real estate investment platform Lasabia have created a joint venture to develop build-to-rent projects in Madrid, according to Savills Aguirre Newman, which advised both companies on the deal.

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The joint venture, which plans to reach several hundred units under management in the coming years, will focus on creating residential housing for rent within the M-30 or nearby areas.

Pablo Granell, Head of Real Estate for Spain and Portugal at Pictet Alternative Advisors, said: “We want to increase our exposure to the residential rental market. Despite the existing competition, we believe there are still opportunities where we can add value.”

Carlos González-Weil, CEO of Lasabia, explained that the joint venture’s aim is “to offer the growing rental market a unique product, located in consolidated urban areas.”

Read the full article in Spanish

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