AXA IM Alts acquires €110m residential development opportunity in Madrid with Neinor Homes

AXA IM Alts, in a joint venture with listed Spanish residential developer Neinor Homes, has acquired a plot of land in Madrid for the development of a €110 million ($120 million) residential scheme with strong environmental credentials.

The site has planning consent for 240 high-quality apartments across two 17-story buildings. The new residential complex also will comprise a comprehensive suite of amenities, including swimming pools, a gym and co-working spaces, and is due to be completed by 2027. Neinor Homes will act as delivery partner.

The scheme is located between Madrid’s northern districts of Puerto de Hierro and Mirasierra, and benefits from the regeneration of the local area, which has delivered new green space and amenities for residents. Transport links into the city center are strong, with seven different bus and metro routes. The project is near the M-30, which offers access to many of the city’s main educational and tourist attractions, including M