Aviva Investors, the global asset management business of Aviva plc, has expanded its Spanish build-to-rent (BTR) platform, acquiring a brownfield development site in Valencia, Spain, with plans to develop 132 residential units across two residential blocks.
The project will be managed by Propia, a dedicated real estate operating company (REOC) launched last year as part of a partnership between Aviva Investors and Layetana Living, a leading Spanish residential developer.
Situated in Valencia’s Jesús district, less than 3 kilometers (1.9 miles) from the city center, the site, which is currently occupied by industrial buildings, benefits from change-of-use approval. The new scheme is expected to provide 132 apartments, all with a private terrace or balcony. Amenities are expected to include a gym, co-working space, a residents’ garden with a swimming pool, a children’s
