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Primonial and Grupo Lar to Build 5,000 Rental Homes

The French fund manager is joining forces with the Spanish real estate group to develop and manage more than 5,000 'build to rent' homes in Spain.

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The French fund manager Primonial is joining forces with Grupo Lar, a real estate company owned by the Pereda family, to develop and manage more than 5,000 ‘build to rent’ homes in Spain.

The two companies have just signed an agreement to create a vehicle that will invest around 400 million euros of capital between now and 2025 in the development of residential rental homes. The platform will construct an initial portfolio of 500 units located in Madrid and other provinces, before adding more homes in the future, according to Expansión.

Read the full article in Spanish.

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