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Hines, Acciona open first BTR project in Madrid
Hines and ACCIONA have opened Skypark Valdebebas, delivering 31,000 square meters (333,681 square feet) of prime residential space in one of Madrid’s fastest growing residential districts northeast of the city.
A first for Hines in Spain, Skypark Valdebebas is a build-to-rent project offering 395 apartments providing homes for 900 people. The scheme is located near a train station with direct access to the center of Madrid. It also has 7,500 square meters (80,729 square feet) of garden space, with private leisure facilities overlooking the Valdebebas Central Park. The apartments are either one, two, or three bedrooms, each equipped with a private terrace or balcony.
Acquired in 2020, on behalf of the Hines European Value Fund 2 (HEVF 2) after the signing of a turnkey-purchase agreement with ACCIONA, Skypark Valdebebas also benefits from wide-ranging retail, amenity and restaurant offering, with the following occupiers already leasing space in the scheme: HM Hosp