The king of flexible rental in Spain, Greystar, will invest up to 500 million in 2024 to continue growing

Greystar consolidates itself in Spain as one of the largest owners and managers of flexible rental homes with a planned investment of between 300 and 500 million of euros next year.

“We are analyzing different projects that we hope to close before the end of the year and for next year we have a quite ambitious pipeline,” said Covadonga Sanz, Director of Asset Management at Greystar, yesterday during the presentation of her latest project in Madrid.

Since Greystar landed in Spain in 2017 They have invested around 2.3 billion euros in residential assets, which has resulted in a portfolio of about 5,000 units.

“This volume of investment, in addition to the coliving (flexible rental) projects, also includes the Resa student residence platform, which we sold last year, as well as our recent investment in Vía Célere, which comprises a portfolio of around 2,400 homes for long-term rentals, and a tourist rental asset on Gran Vía in Madrid with 96 apartments,” explains the director.

The capital is its main focus of growth within the temporary rental market, in which they operate under the Be Casa brand, although they are studying other destinations such as “Málaga, Barcelona or Bilbao”highlights Sanz.

New project in Valdebebas

Yesterday they presented in Valdebebas what is the second of the three Be Casa communities that the firm has planned in the Community of Madrid, which will total more than 2,500 units, with the third, in San Sebastián de los Reyes, being the largest. from Spain, with 1,147 units.

Be Casa Valdebebas has a total of 520 accommodations that “add to the market an innovative and quality offer adapted to the new demands and needs of the population, providing ample spaces for work, leisure and rest,” explained Sanz.

The directive valued the flexibility of its products, both in the length of stays, which can range from days to weeks or monthsas in the configuration of their properties.

“We have both fully furnished studios and spaces with one or two bedrooms that have an equipped kitchen and bathroom. An offer that is completed with more services included such as supplies, high-speed Wi-Fi, a team available 24 hours a day dedicated to maintenance and security, concierge service, cleaning, change of sheets and towels…”, details Sanz.

How much does it cost to live in a coliving with all services?

The rental of these all-inclusive spaces has a price from 950 euros for the studiespassing through 1,200 in one-bedroom apartments, up to 1,580 euros for a two-bedroom apartment.

The project also has large shared areas including coworking spaces, gym, social club, gastro library, pet spa, laundry, paddle tennis court, gardens and outdoor pool. In addition, users can also enjoy a parking space included in the price.

Of Greystar’s three Be Casa spaces in Madrid, the first one to be operational is Rivas with 847 apartments. According to Sanz points out that the project has been very well received., since the first phase is complete. The second was launched this summer and between the two the total occupancy of the project already reaches 60%.

Tom Roeser Staff

Tom Roeser Staff

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