SilverPine Property Investors (SPP Investors) has acquired a corner building on Madrid's Alcalá Street from Redentum Partners, marking the first acquisition in a planned portfolio of serviced apartment and hospitality assets across the Spanish capital.
The Madrid-based investment platform, which focuses on living and hospitality assets across the Iberian Peninsula, will redevelop the 1,086 sqm property into 25 fully furnished serviced apartments. The scheme will comprise studio, one- and two-bedroom units, with private terraces on the upper floors and two retail units at ground level.
Located on one of Madrid's main thoroughfares, the asset benefits from strong year-round demand driven by both leisure and business travel. The property offers direct access to the historic city centre, is within walking distance of Las Ventas bullring, and enjoys fast connections to IFEMA and Madrid-Barajas Airport via the A-2 corridor.
The development is also expected to benefit from the future Ventas Park project, Madrid's flagship urban regeneration initiative, which will create a new green space by covering part of the M-30 motorway and reconnecting the Salamanca and Ciudad Lineal districts. The park is scheduled for completion in the third quarter of 2027, in line with the planned opening of the serviced apartment scheme.
According to SilverPine, the acquisition reflects its confidence in Madrid's serviced apartment sector, underpinned by record tourism levels and a regulatory framework that increasingly favours purpose-built hospitality assets. The company highlighted that the Madrid region welcomed more than nine million visitors in 2025, while the city's Plan Reside is encouraging tourist accommodation to shift away from residential buildings towards professionally managed hospitality schemes.
The transaction is the first in a wider investment strategy through which SilverPine plans to deploy more than €50 million over the coming months. The company is targeting value-add acquisitions, repositioning and development opportunities across Madrid, Valencia, Alicante, Málaga, Seville, Bilbao, San Sebastián and other Iberian cities with strong international tourism demand.
SilverPine said it will focus exclusively on acquiring entire buildings with commercial use in established urban locations, citing Madrid's combination of structurally undersupplied tourism accommodation, a supportive regulatory environment and attractive pricing compared with other major European capitals.
Knight Frank, Baker McKenzie Spain and Arcadis advised the buyer on the transaction.
