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Colliers advises in Valencia on the first build to rent promoted by a local company

  • BTR Urban Atarazanas, from Bertolín Group, sells turnkey project to Primevest Capital Partners

  • The investment amounts to 18 million euros.

  • The development, located in the Marina of Valencia, next to the old Atarazanas, consists of 2 buildings and 90 homes.

The project will comprise two buildings with 90 residential units and a basement parking garage with 58 parking spaces. There will be basement storerooms and bicycle parkings with 98 spaces. Both buildings will have several chill-out areas, a swimming pool and children’s playground on the roof deck. In addition, each building will provide space for a gym and co-working. The property will be built for rent (Build-to-Rent) and will be completed by the end of 2025.

Located to the east of Valencia’s city centre. Aside from being an attractive tourist location, this district has become a hub of technological innovation due to the presence of many start-ups. In addition, many facilities for daily needs can be found in the immediate vicinity. These include several supermarkets, schools, various museums and leisure centres.

Olaf Steinbusch, Senior Acquisitions Manager at Primevest Capital Partners:We are very pleased that, in partnership with Colliers, we have been able to acquire a second residential property in Spain. This project in Valencia offers a very stable investment opportunity due to the combination of modern high-quality apartments situated at a fantastic location and a good ESG rating. It mainly comprises 1-bedroom apartments to meet the demand of affordable, sustainable and modern rental homes with all kinds of amenities and communal areas. We look forward to expanding our portfolio further with sustainable and affordable homes in the residential market in Spain.”

"We are very pleased to have advised on this complex process in which we have been involved in the structuring of the operation from the purchase of the land by Grupo Bertolín from Grupo Ática. This project will be a reference in the city and a catalyst for the improvement of the whole neighbourhood. The BtR market in Valencia is taking off strongly due to the strong demand not only from capital but also from future tenants who expect a high quality, sustainable and well communicated offer. In the coming months, important transactions will be closed that corroborate the interest of institutional investors in Valencia," concludes Rafael Paz, Director of the Valencia office at Colliers.


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Rafael Paz

Director | Valencia Office

Valencia

Rafael has more than 18 years experience in real estate and 12 in the Spanish market. Starting in Colliers International he has developed his career in top market players  such as CBRE and BNP Paribas Real Estate.

He is Director of the Valencia office in Spain, oversees and develops the company’s business in the Valencian Community. Has wide experience in investment transactions, sale & leasebacks, retail, office and logistics letting and sales, consultancy and valuation for international and local clients.

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Alejandra Folgado

Marketing & Comms. Director Spain & Portugal

Madrid

As Marketing and Communications Director Alejandra is responsible for building a marketing and Comm. strategy that grows brand awareness; drives lead generation and works across business lines to support Colliers International in Spain  achieve its growth and customer acquisition goals.

She began her career at Atlas Capital Close Brothers in 2001 and joined to irea in 2006, where she was Knowledge & Organization Manager for almost 4 years. After a 5 years  of professional and personal experience in Italy, she returns to irea as Marketing & Communications Manager.

From January 2015 she has been Head of Marketing and Communications at irea until March 2018, when the spanish firm integrates in Colliers International.

Alejandra studied at Carlos III University (Madrid)  where she has a bachelor degree in Information Sciences. She holds an International Marketing and Communications Master from Polimoda Business School (Italy).

She has worked in Marketing and PR across various industries including Financing, Real Estate, Fashion and Hospitality. Alejandra  also has experience in managing and coordinating  events including conference, congress and trade fairs.

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