Neinor Homes and Orion Capital Managers, on behalf of its Orion European Real Estate Fund V, have acquired one land plot in Malaga as part of its Spanish build-to-sell (BTS) joint venture to develop 429 new homes for sale.
The land plot is located in the Cortijo Merino neighborhood, an expansion area close to Teatinos, where Neinor has delivered more than 300 housing units for sale and 146 for rent. The district is highly consolidated and has a wide array of professional services available, including the University Campus of Malaga, Virgen de la Victoria University Hospital, the Campus of Justice and an excellent metro connection with the city center of Malaga just 15 minutes.
With this investment, Neinor and Orion have been able to reach their investment target commitment of €50 million ($55 million) by acquiring three land plots located in the communities of Barcelona, Valencia and Malaga to develop 582 new homes for sale by 2028 with a potential gross development
