Azora, on behalf of Nestar has acquired a new BTR development of 250 homes in Valdemoro, Madrid, from Emerige.
The development comprises 150 two-bedroom and 100 three-bedroom homes, all of which are already on the market and fully equipped kitchens and bathrooms, air conditioning, and a terrace. In addition, the development has a modern garage and storage rooms available to tenants. The residential building also has communal areas including swimming pools, a paddle tennis court, a multi-sports court, a gymnasium, a coworking space, a pet spa and a children's playground, amongst others.
The project has been designed by Morph Studio, featuring a modern and innovative design with a strong focus on the user. It holds the BREEAM Good Sustainability Certification and an A energy rating.
The building is located in Calle Felipe III, Valdemoro, in built-up area next to the Cercanías station, and is accessible in 20 minutes by car from the centre of Madrid.
Yann Bloch, General Director of Tertiary and International of Emerige, states: “We are proud to have delivered our first Build To Rent operation in Spain to Azora, one of the leading players in the Spanish rental residential sector. This project is fully aligned with Emerige's strategy, which focuses particularly on developing BTR operations in major Spanish cities, with exemplary projects in architectural, social, and environmental terms. We are pleased to share these values with Azora and its partner Nestar.”
Jose Alonso, Partner at Azora, added: “The delivery of this new residential project from Emerige allows us to fulfil our commitment to continue generating high-quality rental housing, designed to foster community and promote sustainability. It is a unique building, with a carefully crafted design in a highly desirable micro market, being well-connected to the city centre and characterized by a strong demand for rental housing.”
Image source - Azora.
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