Aviva Investors & Layetana Living form €500m build-to-rent partnership to develop residential portfolio in Spain

Aviva Investors and Layetana Living, a Spanish developer, has formed a partnership to develop a portfolio of sustainable build-to-rent (BtR) homes in Spain.

The partnership, which will target a portfolio in excess of €500 million ($490.52 million), has already secured its first development project (photo above) under the advice of global property consultancy Knight Frank, acquiring a residential development in Barcelona.

The 71-unit scheme, located in the Sants district of Barcelona, is expected to be delivered at the end of 2023 and provide associated amenity space, a roof terrace and café. The site was purchased with the benefit of an existing license and construction work has already commenced. Placing a strong emphasis on sustainability, including both embodied carbon and ongoing energy consumption of homes, the partnership will ensure homes come with quality outdoor space for residents and technology provision fit for a low carbon future.

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