STAY by Kronos set to deliver 3,000 BTR homes

STAY by Kronos, the build to rent (BTR) platform by Kronos Real Estate Group and Nuveen Real Estate, has acquired two plots of land in Madrid and Barcelona to develop more than 600 new homes.

After this transaction, STAY by Kronos totals 11 developments in Spain — Valencia, Tarragona, Pamplona, Córdoba, Barcelona and the Region of Madrid, with the latter region accounting for 55 percent of the total portfolio.

The two new plots are located in Alcalá de Henares, Madrid, where 332 new rental homes will be built, and Sant Pere de Ribes in Barcelona, which borders Sitges and Vilanova i la Geltrú and will be home to 302 new units. The project will entail investments of €62 million ($62.5 million) in Madrid and €66 million ($68.6 million) in Barcelona, and both will be completed in first quarter 2025.

“The broad geographical footprint of the projects we are developing shows that many local administrations are beginning to grasp the need for new rental ho