- The platform expands the partnership between Partners Group and Medan, focusing on newly built projects designed to provide amenitized housing in greater Madrid.
- The platform will invest in both traditional multifamily schemes and flex-living opportunities, emphasising large-scale projects. Multifamily units will be operated under Nuva Home brand, while flex living apartments will operate under the Nuva Flex brand.
- Located in Alcalá de Henares, Torrejón de Ardoz and another municipality in the southern area of Madrid— three metropolitan cities with a shortage of rental supply — these projects will provide approximately 1,000.
Partners Group, a leading global private markets firm, acting on behalf of its clients and Medan, an integrated Spanish asset manager specialised in the Spanish living sector have expanded their investment platform focused on Spanish Build-to-Rent (BTR) and flex-living strategies. The platform acquired three real estate projects comprising approximately 1,000 units, all developed on a build-to-suit basis.
These projects are located in Alcalá de Henares, Torrejón de Ardoz and another municipality in the southern area of Madrid —metropolitan areas currently facing strong rental demand and a lack of suitable rental products.
The platform strengthens the partnership between Partners Group and Medan, initiated in 2021, which focused initially on retrofitting existing assets in Madrid’s infill locations.
The vehicle will target large-scale greenfield new built projects, offering amenitized housing to meet new tenant demands. The projects will benefit from strong ESG features, aiming for a minimum BREEAM Very Good and Fitwel certifications.
Nuva Living, Medan’s integrated operator, will manage the three schemes upon completion. Nuva Living enhances the tenant experience through a service-oriented, digitalized approach, blending hospitality elements and daily essentials. Multifamily schemes will operate under the Nuva Home brand, while flexible living assets will be branded as Nuva Flex.
Mario Andrés, Managing Partner of Medan comments: “We are excited to expand our platform with these new, high-quality projects and continue addressing the sector’s supply shortage. Our strategy puts tenants at the forefront of what we do, designing and developing products in response to evolving ways of living. From traditional multifamily to alternative flex living assets, we recognise that living is not a one-size-fits-all market. By integrating our operations with Nuva Living, we pick up on these trends and continuously improve on our know-how. This also includes high ESG standards, from implementing new certifications like Fitwel to promoting sustainability and community building through tangible initiatives in our operations.”
Dietmar Weissmann, Member of Management, Partners Group comments: "How you invest matters. This is another example of how to optimize investment risk profile facilitated by the current market environment. By acquiring these three assets through forward purchase structures, we minimize execution and operational risks. At the same time, we maximize liquidity by creating brand new assets in a segment that has increasing occupier and investor demand."
Anne-Jan Jager, Co-Head Real Estate Europe, Partners Group, adds: “This expansion is evidence of our thematic investment approach in action. The residential sector in Spain, and in Madrid in particular, benefits from resilient domestic growth, increasing international investment, and positive net migration. In partnership with Medan, we continue to build out a leading platform for purpose-built and amenitized residential product in an under-supplied market."
