Knight Frank markets Spanish BTR and flex portfolio

Knight Frank has been appointed to market a €100m Build to Rent and flex portfolio in Spain, which offers a forward funding opportunity.

One of the schemes in the Build to Rent and flex portfolio brought to market by Knight Frank | BTR News
One of the schemes in the Build to Rent and flex portfolio brought to market by Knight Frank.

The Spain Living Sectors team of global property consultancy Knight Frank has brought a €100m forward funding opportunity to market, which includes both Build to Rent and flex living assets within the portfolio. With 379 units in total, the portfolio consists of three strategically located sites – two in Malaga and one in Barcelona.

The first asset in the portfolio is a Build to Rent block in Malaga comprising 108 residences and spanning 8,526 sqm. The unit mix includes 18 one-bedroom, 62 two-bedroom and 28 three-bedroom apartments. 

The second asset – a 10,890 sqm Build to Rent scheme in Barcelona – is located in the south-western part of the city. The 126 units at this site includes a mix of 71 two-bedroom and 57 three-bedroom apartments. 

The final asset in the portfolio is a 143-unit flex living scheme in Malaga. The block extends across 7,762 sqm and includes 52 studios, 39 one-bedroom, 26 two-bedroom and 26 two-bedroom plus apartments. Construction on all sites is expected to begin in Q3 2024.

“This portfolio offers the opportunity to acquire both Build to Rent and flex living assets in strategic locations in two key Spanish cities, which are being delivered by a highly experienced, institutional development team.

“The flagship projects in Malaga are in a consolidated area of the city currently experiencing significant new development. The location boasts strong rental demand for both long- and short-term tenants, which significantly outstrips the limited supply in the city.

“Meanwhile, the unique Build to Rent scheme in Barcelona sits within a micro market where the surrounding housing stock is dated and lacks amenities – as a result the Barcelona site fills a significant gap in the market. 

“Given the strong fundamentals underpinning all three sites, we are seeing strong investor interest in this forward funding opportunity.”

Elaine Beachill, Head of Spain Living Sectors, Knight Frank