Barings has agreed to a forward commitment with Grupo Ferrocarril for the development of 188 affordable build-to-rent housing units in Valdebebas, Madrid.
The total investment is expected to exceed €56 million ($65 million).
Under the agreement, Grupo Ferrocarril will undertake the development of the project, including architectural design, technical management, urban planning and construction. Upon completion, Barings will acquire the asset and integrate it into its European living portfolio.
Construction is scheduled to begin in first quarter 2027, with completion targeted for 2029.
The development will be located in Valdebebas, one of Madrid’s urban growth areas, and will include 188 one-, two- and three-bedroom homes. The scheme will span approximately 19,000 square meters (204,514 square feet), of buildable land and will include parking spaces, storage rooms, a swimming pool and communal gardens. The project is targeting BREEAM Very Good certific
