DLA Piper has advised Renta Garantizada on the sale of its 75 per cent stake to Spanish residential developer Neinor Homes
The leading Spanish residential developer Neinor Homes has acquired 75 per cent of Renta Garantizada, one of the main players in the rental segment, with over 25 years of experience and a consolidated portfolio of over 2,500 units under management. The acquisition will allow Neinor Homes to develop a leading rental platform in Spain, which will integrate both Build-to-Rent (BtR) services as well as the management of granular rental assets, consolidating its leading position in the Rental business.
Renta Garantizada is an important milestone in the execution of Neinor’s strategic plan to consolidate its rental division, which adds to the Development and Servicing business lines. Neinor will integrate the rental portfolio already managed by Renta Garantizada, plus the 1,200 unit portfolio being developed by Neinor Rental, resulting on a total portfolio of circa 4,000 units that will gradually increase during the upcoming years.
With this acquisition, Neinor Homes consolidates its BtR business announced at the beginning of this year, and develops a new business line such as the management of finished product, becoming the only company to cover the entire value chain of BtR, from land acquisition to the management of the units.
Borja García-Egotxeaga, CEO of Neinor Homes, said: “It is a strategic acquisition that will allow us to consolidate our leading position in the market and drive our Build-to-Rent business.”
DLA Piper advised Renta Garantizada with a team led by Corporate head partner José María Gil-Robles (pictured), assited by Corporate associate María Gutiérrez and trainee lawyer Álvaro Luaces.