ASG Homes has signed a turnkey project with Sociedad Anónima Inmobiliaria Vascongada (SAIV), a subsidiary of Lazora, for the delivery of a complex of 439 homes in a residential neighborhood of Seville, conceived in a built to rent (BTR) model.
The project consists of a block of flats for rent, most of them with one or two bedrooms, and with shared areas such as an interior patio with garden areas, a communal pool, an underground parking lot, a gym, a children's play area and a space for co -working. The complex has a total of 37,000 sqm.
SAIV will be in charge of renting the flats and managing the block after delivery by ASG Homes, scheduled for the first half of 2024.
"Our project with SAIV represents a profound change for us, by diversifying in the BTR segment and serving third-party institutional clients as well as funds managed by our parent company. This has been possible thanks to the fact that we have successfully promoted housing projects for for sale in the most dynamic cities of Spain. The Seville project demonstrates our ability to obtain the investment product that entities want and contribute to the development of the Spanish BTR market, which still has a limited supply ", says Víctor Pérez Arias, CEO of ASG Homes.
ASG Homes has completed the development of the Argos apartment block adjacent to the SAIV project, while construction works on the Argos II complex are underway.
In addition to developing a total of 600 homes this year in Seville, Valencia and Madrid, ASG Homes has a portfolio of 1,500 units for sale or as part of BTR projects for institutional investors. The company also manages 5,000 residential units distributed between Andalusia, Alicante, Catalonia, Madrid, Salamanca and Valencia.
"Entities cannot find the investment grade assets they need, which is holding back the development of the Spanish BTR market. Thanks to its enviable track record and extensive experience, ASG Homes has a solid portfolio of projects with which to respond to this Necessity. Ground-up is just one of the many strategies articulated by our pan-European funds, which also include loans, building renovations and corporate acquisitions such as those we have made in Denmark, Germany and the Netherlands, "says Brian Betel, Head of Direct Europe Operations at ASG.
