Neinor Homes, Spanish residential developer with over 30 years of experience in constructing sustainable and high-quality assets, has announced a new sale of a Build-to-Rent (BTR) affordable asset in Madrid to CBRE Investment Management, one of the leading global investment managers of real assets, for c.25 million euros. Savills has acted as an advisor to Neinor in the transaction.

The asset, named Dual Homes, is located in the El Cañaveral neighborhood, within the district of Vicálvaro in Madrid. El Cañaveral is a newly developed area of Madrid that is currently undergoing consolidation and already has over 14,000 properties. Residential prospects for this area are very positive, as it offers all the necessary public transportation services, including excellent bus, metro, and train connections, and is well-connected to the rest of the city via the M45, R-3, and M-50 highways. To accelerate the consolidation of the neighborhood, construction of tertiary services such as schools has already begun.

The complex, which stands out for its innovative design and GRC facade, will consist of two buildings and feature a total of 94 units: 11 one-bedroom apartments, 53 two-bedroom apartments, and 30 three-bedroom apartments. The development will offer spacious facilities such as a swimming pool, solarium, and multi-purpose rooms. Additionally, there will be 126 parking spaces and 52 storage rooms spread over two basement levels.

The asset has been designed with sustainable construction standards in mind, complying with the strict criteria of the EU Taxonomy, and has been assigned the EPC A label.

Since the beginning of the year, Neinor has announced the sale of 5 build-to-rent (BTR) assets, successfully achieving its objective of unlocking and crystallizing the value of its rental portfolio. With the sale of Dual Homes, Neinor has sold a total of 693 BTR units for over 175 million euros to institutional investors and family offices. Hacienda Homes (146 units), Lyra (93 units), Sky Homes (213 units), Europa Homes (146 units), and Dual Homes (94 units) represent approximately 30% of Neinor's total BTR portfolio.