Allianz Real Estate, acting on behalf of several Allianz Group companies, has acquired, in an off-market transaction, its first private-rented sector (PRS) portfolio in Spain.
The assets have been acquired through a purchase of a controlling stake of a joint venture vehicle, Elix Vintage, owned by global international investor KKR, the private markets specialist Altamar Capital Partners, and other investors, via a tender offer.
Comprising 421 prime residential units in 21 assets located centrally in Madrid and Barcelona, the acquisition further builds upon Allianz Real Estate’s PRS exposure globally and fully supports its strategy of investing in new or newly refurbished, high-quality assets with strong sustainability criteria in prime urban locations targeting the mid-market segment.
Most of the assets already meet Carbon Risk Real Estate Monitor (CRREM) sustainability standards, with the aim to render the entire portfolio CRREM 2040 compliant through a dedic
