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- The Spanish homebuilder has developed this sustainable, 125-unit turnkey project with 2, 3 and 4 bedroom apartments in its large Jardines Hacienda Rosario project in East Seville.
- José Ignacio Fernández, AEDAS Homes Regional Director of the Andalusia and Canary Islands Branch: “AEDAS Homes has once again demonstrated its reliability as a leading industrial partner”.
- Olaf Steinbusch, Senior Acquisition Manager at Primevest-Capital-Partners: “This first Build to Rent project consolidates the company’s investment strategy in Spain”.
- Claudia Gerber, Senior Asset Manager of Primevest-Capital-Partners: “This development offers a new, professionalized approach for modern and sustainable rental housing at market prices”.
January 2023.– AEDAS Homes, a leading listed homebuilder in Spain, has made history in Seville with the delivery of the first Build to Rent (BTR) development in the city. The company developed this turnkey project with 125 rental units for a German core institutional investor, and it is the first property acquired by this investor in the Spanish market. The acquisition and management has been carried out by Primevest-Capital-Partners, a German-Dutch company that has acted as an investment and asset manager for the investor for many years. Primevest has already put these affordable rental units on the market through the firm MVGM Property Management, one of Europe’s leading property management companies for this type of product, which has a portfolio of over 100,000 units across Europe.
This BTR development features apartments with large terraces and various layouts with 2, 3 and 4 bedrooms, fully furnished kitchens equipped with name-brand appliances, parking and storage. Rental prices start at approximately €600 per month for 2-bedroom units, €700 per month for 3-bedroom units, and €950 per month for 4-bedroom units, plus service charges.
The development forms part of the Jardines Hacienda Rosario residential project—the largest being built in Spain—which AEDAS Homes is developing in East Seville and which comprise a total of seven buildings with 1,046 homes and over 37,000 sqm of impressive, resort-style common areas. The tenants of the Primevest-Capital-Partners development will enjoy two swimming pools, six paddle-tennis courts, a soccer field, basketball courts, children’s playground, a jogging trail of more than one kilometre, a social club with catering services, large gardens and promenades.
“AEDAS Homes has once again demonstrated its reliability as a leading industrial partner in the Spanish homebuilding business with the delivery of this residential development ahead of schedule,” explained José Ignacio Fernández, Director of the company’s Andalusia and Canary Islands Regional Branch. Mr. Fernández highlighted the social impact of the development, saying: “We’ve opened up a market which is unprecedented in terms of the current residential offer in Seville—high-quality new-build homes for rental, with professional management and at attractive prices”.
Olaf Steinbusch, Senior Acquisition Manager at Primevest-Capital-Partners, pointed out that this first BTR project “consolidates the firm’s investment strategy in Spain, based on acquiring properties in selected cities throughout the country”. In the case of Seville, where most of the rental supply is in the hands of private landlords, Claudia Gerber, Senior Asset Manager at Primevest-Capital-Partners, highlighted the fact that this development will inject much-needed supply which has been adapted to the rental market, is professionally managed and combines many aspects of contemporary and sustainable living.
BREEAM certification
The development delivered by AEDAS Homes to Primevest-Capital-Partners also stands out for its high levels of comfort and sustainabitility, which will translate into energy and financial savings for residents. The building is the first BTR development to boast an international BREEAM certificate, thanks to measures such as solar panels to generate electricity, heat pump air conditioning (without fossil fuels), rainwater and wastewater collectors, state-of the art LED lighting in all common areas and a designated ‘clean point’ for recycling waste, plastic, glass and paper.
Welcoming the first tenants by the end of January
“The development has sparked great interest in the market for months, and this interest is reflected in the list of registrants who will be given priority for the choice of housing”, explained Faustino García, Head of Residential at MVGM, who expects the first residents to move in at the end of January.
Mr. García noted that general information about the project can be found at www.sevillalasdelicias.com and that very soon, units will be available for viewing; it is also possible to take virtual tours and make reservations online. “Those who are interested in renting one of the apartments can access more information on the web, directly at the marketing office located in the building itself (Calle Francisco González García, 3 – Portal 3, Bajo G), by ringing +34 677 60 26 18 or by sending an email to alquiler.residencial.sevilla@mvgm.com”, he said
AEDAS Homes, the leading BTR developer in Spain
With this latest BTR delivery, AEDAS Homes continues to facilitate access to rental housing and drive the professionalization of the rental market in Spain, having now completed three developments with a total 300 units, in Torrejón de Ardoz (Madrid), Alcalá de Henares (Madrid) and Seville. In total, the homebuilder has 14 turnkey BTR projects with close to 1,700 units sold to five institutional clients for €300 million, and has established itself as the leading developer of BTR projects in Spain. In the coming months, AEDAS Homes plans to hand over four other turnkey projects to different institutional partners, totalling 500 additional units.