Transaction / AssetsGran Vía, 48 Sellerna BuyerGreystar Real Estate Partners € MM
Greystar Enters Rental Home Sector with the Purchase of a Building on Gran Vía in Madrid
3 June 2019 – Expansión
Greystar Real Estate Partners has inaugurated its expansion plan into the residential rental market in Spain with the acquisition of the property on Madrid’s Gran Vía, 48, containing 100 residential units, for an undisclosed sum.
The operation represents the real estate investor’s second acquisition in the country after it purchased the Spanish student residence operator Resa in 2017 through a joint venture with the fund AXA Investment Managers and CBRE Global Investment Partners.
Greystar has four new build projects under development across Spain, comprising 1,000 beds in total, in cities such as Madrid, Málaga and Pamplona.
Original story: Expansión
Translation/Summary: Carmel Drake