Nuveen and Kronos invest 120 million in new rental homes in Madrid

leomaxwell1999

Work begins on a new 'build to rent' project in Madrid with Stay, the platform promoted by the manager Nuveen and the developer Kronos.

The development is located in Cuatro Vientos, includes more than half a thousand homes for rent and will involve an investment of 120 million euros . It will, therefore, be one of the largest residential rental developments to begin in all of Spain.

The project includes 531 units between studios and homes with 1, 2 and 3 bedrooms , as well as different common areas, including two swimming pools, SPA, coworking, paddle tennis courts, running circuit, gym, cinema, Children's area and bicycle room.

This is Stay's first 'build to rent' in the capital , although it Phone Lead is also present in Barcelona, ​​Valencia, Córdoba, Tarragona and Pamplona, ​​and the construction works have been awarded to Dragados. They are scheduled to be completed in March 2025.



As explained from the platform, this residential "will be just one minute from Metro, Cercanías and bus stops, which, together with its proximity to the center and direct access to the A-5, will allow its tenants to reach the Plaza de "Spain in 15 minutes. Furthermore, as in all the brand's projects, the commitment to sustainability and quality of life is an outstanding quality of the new residential." And the objective is "to generate a community of more than 1,000 residents who share a healthy lifestyle, social activities and generate synergies that also contribute to consolidating the urban fabric of the neighborhood."

Nuveen Real Estate and Kronos announced in September 2020 an agreement to promote rental housing with the aim of developing 5,000 homes with a gross asset value of €1 billion. Stay was born with a portfolio of around 1,400 homes , divided into five projects to be promoted within a period of three years and located in Madrid, Valencia, Tarragona and.


According to ASEFAVE, " the Basque Country has been the first autonomous community to meet the pre-established rehabilitation objectives , an essential condition for publishing this latest amount of funds.