Grupo Lar and JP Morgan partner on Spanish housing venture

Grupo Lar and institutional investors advised by J.P. Morgan Asset Management are partnering to invest around €600 mln in developing flexible living spaces across Spain.

Grupo Lar residential project

Their joint venture aims to create approximately 5,000 beds in 10 projects, primarily in major cities like Madrid, Barcelona, Valencia, and Malaga. The goal is to establish a leading flexible housing platform in Spain by offering high-quality, fully furnished units with a range of amenities and services.
This initiative is driven by evolving residential needs, including increased mobility, the growth of single-person households, new co-living trends, and the rise of remote work.
Their first project is already underway: a 500-unit development in San Sebastián de los Reyes (Madrid), situated in a well-established residential area near shopping, sports facilities, and a business park.
Jorge Pereda, country manager of Living at Grupo Lar, said: "With this agreement, we take a decisive step toward structuring a best-in-class platform that aims to redefine the concept of housing in major Spanish cities. Flex-living is a structural response to the new ways of living, working, and moving around in urban environments. We are launching an ambitious proposal that combines a quality product, operational efficiency, and a vision for the future. With a focus on Madrid, Barcelona, Valencia, and Malaga, we see a clear opportunity to add a new residential category: more flexible, more sustainable, and more aligned with people's real needs."
Michele Russo, deputy head of Acquisitions at J.P. Morgan Asset Management, added: "We are delighted to launch our first project in Spain, a decisive step towards building the country's leading flex-living platform. This model offers a structural response to the new ways of living, working, and traveling in urban environments, with a clear focus on quality, sustainability, and meeting real needs. Collaborating with Grupo Lar allows us to combine deep local knowledge with global investment experience, creating a highly attractive proposition for major Spanish cities. We see a significant opportunity to establish a new benchmark in the residential sector in the country."