Harrison Street, DeA Capital launch BTR JV in Spain
Harrison Street and DeA Capital S.p.A. (DeA) have formed a new joint venture to develop built-to-rent (BTR) residential housing across Spain.
The joint venture also announced its first development of a seed portfolio of 441 BTR units across two properties in Seville. DeA Capital Iberia, DeA’s Spanish subsidiary, will provide development and operational management services for the portfolio.
This initial portfolio includes two BTR residential assets located in the newly developing regions within the metropolitan area of Seville, Camas and Entrenucleos, and will help meet the increasing need of affordable residential product for rent. The Camas property will comprise 144 units and contain a unit mix of one- to three-bedrooms, and the Entrenucleos property will comprise 297 units and contain a mix of two- and three-bedroom units. Both properties will be 15 minutes to 20 minutes from Seville’s city center within walking distance of public-transportation options and an