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Catella acquires a build-to-rent building for €25M in Valdemoro
13 March 2020 | Alicia Navarro

Catella-AM Iberia acquired a residential building destined for the rental market for 25 million euro in Valdemoro, Madrid for fund "Catella European Residential" (CER), managed by Catella Residential Investment Management (CRIM).

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The development, which was signed in mid-2018 as build-to-rent, consists of two buildings with a total 191 dwellings, 191 parking spots and 191 storage units, for a total 14.298 sqm above the ground.

The dwellings, whose marketing has already started, are mostly two-bedroom apartments (75%) although there are also one and three-bedroom apartments. The development also has an outdoor swimming pool, paddle track, playground and a multi-sports court. The project was developed and sold by Activitas.

Director and partner at Catella-AM Iberia, Eduardo Guardiola, assured that «the acquisition of Valdemoro is one more step in our strategy which, has in rental housing one of its strongest points for the next few years. We believe that the demand for affordable rental housing will keep growing in the large urban areas of Spain and Portugal».