AEW acquisisce due progetti residenziali a Valencia, Spagna

AEW, the global real estate investment manager, announces that it has agreed, in an off-market transaction, to forward purchase two build-to-rent (BTR) developments that will deliver 206 apartments in the growing Moreras district of Valencia, Spain, on behalf of a separate account mandate for a German pension fund.

The assets are scheduled for delivery in 2023 and will comprise c. 23,400 sqm across two buildings – one 21-floor high-rise and one 11-floor low-rise – constructed by experienced developer Metrovacesa. The properties are targeting a high EPC rating for energy consumption and will offer a mix of studios in addition to one- to four-bedroom apartments at mid-market pricing levels, finished to a modern, high quality standard, alongside a range of amenities, including swimming pools, a gym, paddle tennis courts, gardens and ground floor retail units. There are also storage units for each apartment and 218 underground car parking spaces.

The Moreras district (La Punta) is a growing ex-industrial area of Valencia, which is benefitting from significant regeneration. Planned improvements to the public transport network, including the opening of a new Metro station, have fuelled investment and development activity in the region. The scheme is situated in a strategic location in the eastern part of the city between the historical city centre and local beaches, with the iconic Ciutat d les Arts i les Ciències and amenities close by.

Source : Company