Spain: CaixaBank has extended a BTR loan to the Stay platform, supporting its expansion within the Spanish residential rental market.
The loan, valued at €116.8 million (£101.4 million), will fund the development of three BTR projects located in Vilanova (Barcelona), Berrocales (Madrid), and Alcalá de Henares.
These projects aim to address the growing demand for rental housing in key urban areas.
James Linsell, head of real estate finance at CaixaBank, said: “This financing reflects CaixaBank’s commitment to supporting the development of high-quality rental housing and the expansion of Stay’s portfolio across key urban locations.”
The financing, facilitated by CaixaBank, aims to bolster Stay’s growth in Spain’s burgeoning BTR sector.
Stay, a joint venture between Nuveen and Kronos, said it is at the forefront of Spain’s institutional rental housing sector, focusing on sustainable, professionally managed residential properties.
The platform’s expansion aligns with the increasing demand for rental housing solutions across major Spanish cities.
