Gestilar and DWS consolidate their business relationship with the signing of an agreement to develop a new residential development for rent. Gestilar closed the transaction for the land located in Valdebebas (Madrid) at the end of 2022, and has now reached an agreement with DWS for the development of this turnkey project, which will consist of 130 homes.
With this new Build to Rent project in Valdebebas, both entities reaffirm their commitment to accessible and quality housing, with a portfolio of joint projects that totals 1,400 homes and includes developments in Badalona (Barcelona), Getafe and Ensanche de Vallecas.
The management of this housing portfolio is part of the partnership that DWS has with Urban Input Group and its management platform, Bialto, contributing to solving the shortage of rental supply in the Spanish market.
The transaction has an estimated price of 30 million euros and has been advised by Colliers, a global leader in real estate investment management and advisory services.
For Raúl Guerrero, Gestilar's CEO, "this project is excellent news both for our companies and for the development sector as a whole. It confirms the strength and solidity of the new-build segment, reinforces our commitment to BTR - one of the residential formulas with the greatest potential for growth and investment this year - and brings stability to our business model".
Manuel Ibáñez, Head of Real Estate Iberia for DWS, points out that "we were very interested in entering into an operation in a location such as Valdebebas, where we intend to offer a different product to that which has been offered for rent in the area. DWS continues to reinforce our strong commitment to the 'Build to Rent' segment in Spain, where we have already reached agreements for more than 3,400 homes.
130 multi-family dwellings and spacious communal areas
Following one of Gestilar's most important premises, this new project, which will be located on plot 177B in Valdebebas, has an exceptional location on the front line of the Felipe VI Forest Park, destined to become one of the main green lungs of the capital's periphery.
ISLA DE PEDROSA, ONE OF THE GESTILAR DEVELOPMENTS IN VALDEBEBAS (MADRID)
The good location, added to the set of attributes that define the demanding seal of quality that Gestilar applies to all its new-build projects - such as design, architecture and attention to detail - will be the distinguishing features of this project.
The development will have 13,000 sqm of built residential surface area, distributed in 130 one- to three-bedroom homes with terrace, garage, storage room and spacious communal areas, another of the hallmarks of the complexes developed by the developer, which will include a swimming pool, coworking space, paddle tennis court and green areas, among others.
In addition to residential space, the project includes the construction of a commercial space of more than 2,000 sqm, thus expanding the supply of commercial premises on Avenida Juan Antonio Samaranch, where this project is located, one of the main arteries of Valdebebas, which also concentrates many of the commercial establishments and facilities that already exist in the area.
The initially foreseen deadlines at this preliminary stage of the project's development are for construction work to begin in the summer of 2023 and for housing to be handed over in 2025.
