AEDAS Homes, a leading listed homebuilder in Spain, has consolidated its leading position as an industrial partner in the Build to Rent (BTR) segment with the delivery of a turnkey development in Alcalá de Henares (Madrid), to Nestar Homes, a Grupo Azora platform dedicated to affordable rental housing. This marks the fourth turnkey rental development the Spanish homebuilder has delivered to an institutional client.
In December 2022, AEDAS Homes delivered—ahead of schedule—this 128-unit development, comprising 88 one-bedroom and 40 two-bedroom units. All the apartments have private outdoor spaces (terraces or gardens), ceramic floors with underfloor heating and cooling, and come equipped with all kitchen appliances and bathroom furniture. The development has multiple common areas with large green spaces, a swimming pool, a paddle tennis court, a children's playground, a picnic area, a pet washing area and calisthenics circuit, and is equipped with electronic locks that facilitate access to all spaces.
The new Nestar Homes rental complex developed by AEDAS Homes is now available at nestarhomes.es, with rents starting at €695 monthly.
“AEDAS Homes has once again fulfilled a double commitment with this BTR development, first by fulfilling the agreement signed with an institutional investment partner and second, by providing our society a development that is designed to respond to the strong demand for rental housing”, explained David Martínez, CEO of AEDAS Homes, recalling that the rental market in Spain is experiencing a very strong moment, which is reflected in solid demand to which the private development sector must also respond.
Nestar: highest quality standards at affordable prices
José Alonso, partner at Azora, pointed out that "Nestar, along with AEDAS Homes, has developed this project with the goal of making a more modern, sustainable housing concept a reality, offering more services, greater comfort and quality of life, and using technology to create unique, cohesive communities. At Nestar we want the common areas to be an extension of our tenants’ homes and become places where they can enjoy interacting and create a real community. This development, which has an A energy rating and carries the BREEAM seal, is a clear example of Nestar's focus on quality, sustainable and affordable developments that contribute to our customers’ well-being”.
This turnkey development consolidates Las Sedas, a strategic enclave in Alcalá de Henares and in the Community of Madrid due to its excellent connections to the centre of the city and to the airport. This new neighbourhood represents an innovative urban concept that gives priority to green areas, urban footpaths and neighbourhood cohesion points, all centred on a large public square.
AEDAS Homes, the leading BTR developer in Spain
With this latest BTR delivery, AEDAS Homes continues to facilitate access to rental housing and drive the professionalization of the rental market in Spain, having now completed four developments with over 400 units: two in Alcalá de Henares (Madrid), one in Torrejón de Ardoz (Madrid) and one in Seville. In total, the homebuilder has 14 turnkey BTR projects with approximately 1,700 units sold to five institutional clients for €300 million, and has established itself as the leading developer of BTR projects in Spain. In the coming months, AEDAS Homes plans to hand over three other turnkey projects to different institutional partners, with over 300 additional units.
