Greystar acquires BTR asset in Madrid

Greystar has acquired a build-to-rent asset in Madrid’s city center, in the Arganzuela district.

ACCIONA, owner of the 24,795-square-meter (266,890-square-foot) plot and in charge of its development, plans to start construction in second half 2022. The 13-story building has been designed by the L35 architecture studio and will comprise 455 one- and two-bedroom apartments.

In addition to a privileged location in Madrid’s city center, just a 15-minute walk from the Atocha Station or the Reina Sofía and Prado Museums and very close to the M-30, the asset will have a wide range of amenities and shared areas, including a large lobby/lounge, gym, co-working spaces, a theater, leisure and dining areas for residents, a community terrace, a children’s play area, a swimming pool, and 455 storage rooms and parking spaces.

Upon completion, the asset is intended to form part of the growing portfolio for Greystar’s new pan-European value-add strategy, which was annou