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Spain: Real estate investment firms Stoneweg and BGO have launched a joint venture to create a living
Sector platform in Spain.
With a planned total investment of €500 million over the next years, Stoneweg and BGO aim “to drive the professionalisation and institutionalisation of the living model in Spain, promoting projects tailored to the growing need for modern, flexible and sustainable Living solutions in prime locations”.
Stoneweg, through its Bext Space brand, already has proven experience in the sector, having developed Bext Vallecas in Madrid, sold earlier this year to GMP, and the recently inaugurated Bext Valdebebas complex, also in Madrid, which will become the first asset of the Stoneweg-BGO joint venture.
The Valdebebas property offers 583 units, including studios and one and two-bedroom apartments. The project features shared spaces such as a gym, coworking areas, padel courts and a swimming pool. It has a BREEAM Excellent certification. The acquisition has been financed by Aareal Bank.
Javier López Galdos, managing director at BGO, said: “We continue to invest in the living sector in Spain as we see room for growth across the different segments given the clear structural housing deficit in the country. We are delighted to join forces with Stoneweg, a clear leader in the living sector in Spain, and we look forward to continuing to execute on the strategy together.”
Joaquin Castellví, co-founder and chief investment officer (CIO) at Stoneweg, added: “This alliance with our partner BGO marks a decisive step in consolidating our leadership in the living segment in Spain, having been one of the first investors to bet on this market. Stoneweg has a strong conviction and commitment to the living sector in Spain, driven by the need to provide housing solutions that combine quality, sustainability and flexibility, aligned with new urban lifestyles.”
Highlights:
• Real estate investment firms Stoneweg and BGO have launched a joint venture to create a living
sector platform in Spain
• With a planned total investment of €500 million over the next years, Stoneweg and BGO aim “to drive the professionalisation and institutionalisation of the living model in Spain
• The JV’s first asset will be the recently inaugurated Bext Valdebebas complex in Madrid
