FREO Group, an international investment, development and asset management company, has announced the creation of a new division focused on residential property investment. Under the leadership of Lorenzo Peñalver, this division will focus on identifying opportunities in Living in Spain's major cities.
The company is looking to expand its presence in Spain, where it has already completed 17 transactions in the logistics and office sectors, accumulating a value of €1.2 billion under the leadership of Daniel Mayans and Oscar de Navas. In the residential sector, FREO will collaborate with renowned partners, according to the company.
In this regard, last July the company already closed its first transaction for the purchase of a residential building in the centre of Palma de Mallorca for refurbishment and subsequent sale as high-end flats.
Lorenzo Peñalver, appointed as Head of Living, has more than 20 years' experience in real estate investment and asset management, having previously worked at companies such as Hines and Aberdeen. At Hines, he managed acquisitions totalling €200m since 2022, including more than 55,000 sqm for the construction of 400 homes and 750 beds. Previously, at Aberdeen Standard Investments Real Estate, it closed 11 transactions for more than €450 million, including four Build to Rent assets in Madrid and Palma de Mallorca between 2020 and 2021.
