ASG Homes is launching a new vehicle in Spain with an investment of 200 M Euros aimed at the residential development of 2,500 rental homes
ASG Homes, one of the major operators on the Spanish real estate market, brings an extensive career in the sector and combined experience of over 30 years, with one of the largest and most experienced teams in the country. Ranked as one of the five top companies in the sector, it holds a portfolio under management comprising more than 5,000 dwellings distributed among the country’s major cities, and has attracted the interest of several German-based pension funds for its initial investment in Spain.
Based on a business model with long-term capital and commitment to remain in Spain, the agreement was signed with an initial capital of 200 million Euros to develop a residential platform for long-term rental homes in Spain, aimed at building a portfolio with at least 2,500 dwellings in our country.
With a well-defined roadmap, it is based on acquiring assets that provide an opportunity to pursue projects of a certain magnitude (more than 100 units per operation), such as plots for developing new dwellings, buildings in need of renovation, change in use of assets or NPLs, which will be the main focus of the investment for the development of this new business line. Acquisitions that will take place over the next two years.
This project stems from the goal to address a clear need for a rental housing market, one that requires a quality product with professional management. With common guidelines characterised by quality materials, sustainability, flexible spaces or advanced technological adaptation, ASG Homes seeks to offer a product that adapts to new ways of living and working with co-working and co-living spaces, or the placement of multiple value-added services at the user’s disposal.
Víctor Pérez Arias, CEO of ASG Homes, stated: “this is a magnificent opportunity for the company’s growth in its wager to continue developing value-added assets in response to real market demands. Over the next twelve months we will be highly focused on the search for assets, for which we have reinforced our acquisitions team in order to detect opportunities in line with our expectations”.
With the ability to operate throughout Spanish territory, it will centre on the main cities of Spain in terms of its economic situation and demand for rental housing, focusing on the metropolitan areas of major cities (Madrid, Barcelona, Valencia, Seville, Málaga and the Basque Country) and provincial capitals of high growth (Zaragoza, Pamplona, Palma de Mallorca, Valladolid and Murcia).
Víctor Pérez Arias added: “With ASG Homes as Partner in this new investment vehicle and with the asset management Platform known as FACILITA, this is one of the most significant Build to Rent agreements signed in Spain to date, thus revealing the confidence of foreign capital in our country and its keen interest in long-term investments in the Spanish real estate market. The solvency and flexibility of ASG Homes in its wager for quality, sustainability and coverage of the market’s changing needs have aroused the interest of major investors
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