Stoneweg & BGO launch €500m Spanish resi venture

Real estate companies Stoneweg and BGO are partnering to create a major residential platform in Spain. 

Stoneweg - BGO residential venture

They plan to invest €500 mln to develop modern, flexible, and sustainable housing solutions in prime locations, addressing the high demand and limited new projects in the Spanish market.
These new developments will cater to young professionals seeking well-located accommodation with services, as well as companies needing temporary housing for staff. 
Stoneweg, with its Bext Space brand, has prior experience in this sector, including the Bext Valdebebas complex, which will be the first asset in the new joint venture. This complex offers 583 units with amenities like a gym, co-working spaces, paddle courts, and a swimming pool, and has an excellent environmental certification. 
The acquisition of Bext Valdebebas by GMP was financed by Aareal Bank.
Javier López Galdos, managing director at BGO, said: “We continue to invest in the living sector in Spain as we see room for growth across the different segments given the clear structural housing deficit in the country. We are delighted to join forces with Stoneweg, a clear leader in the living sector in Spain, and we look forward to continuing to execute on the strategy together.”
Joaquin Castellví, co-founder, CIO of Stoneweg, commented: “This alliance with our partner BGO marks a decisive step in consolidating our leadership in the living segment in Spain, having been one of the first investors to bet on this market. Stoneweg has a strong conviction and commitment to the living sector in Spain, driven by the need to provide housing solutions that combine quality, sustainability and flexibility, aligned with new urban lifestyles.”