Build to rent platform STAY by Kronos, owned by Nuveen Real Estate and Kronos Real Estate Group, has started work on a new residential development in the Los Berrocales neighbourhood of Madrid. The first phase of the project, which includes 380 rental homes, is scheduled for delivery in 2026, while a second phase, with 446 homes, is planned for 2027. This development consolidates the growth of STAY by Kronos in the Madrid region, where it already has STAY Torrejón in operation and two other residential developments under construction in Cuatro Vientos and Alcalá de Henares.
For Carlos Rodríguez-Bailón, CEO of STAY by Kronos: ‘STAY Berrocales responds to the huge demand for affordable and well-located rental housing in Madrid, while offering premium services designed for wellbeing. We firmly believe that this is the rental housing model that the people of Madrid need: residential that is close, complete, sustainable and fosters a sense of belonging to its community’.
For his part, Alberto García-Gasco, Investment Manager of Nuveen Real Estate, underlines that ‘Los Berrocales is consolidating its position as one of the most promising areas of Madrid for the development of residential product, becoming a strategic enclave for our projects. Our proposal seeks to satisfy a high demand in the market, contributing to the modernisation of the property stock in Spain’.
The residential development, designed by the WSP studio, will include common areas and services such as lobby, relaxation areas, chill-out pools, OX Club gym, coworking, paddle tennis court, pet spa, rooftop, car sharing and mini market. All homes will be equipped with home automation technology and services that can be managed via a mobile app. In addition, art will play a prominent role with works by local artists to promote cultural coexistence.
STAY Berrocales will obtain the ‘Very Good’ level of the BREEAM certificate and the Fitwel seal, guaranteeing high sustainability criteria and prioritising the well-being and health of the tenants.
The start of construction in Los Berrocales is part of the expansion of STAY by Kronos in Madrid, which began with STAY Torrejón in 2023. In addition to the projects in Alcalá de Henares and Cuatro Vientos, STAY operates residential developments in Valencia, Tarragona and Córdoba, with upcoming developments in Sant Pere de Ribes (Barcelona) and Pamplona.
