Greystar acquires land from BWRE to build 458 flexible rental flats in Boadilla del Monte: Advisors

Greystar, a global leader in real estate investment, development and property management, has acquired a ready-to-build residential site in Boadilla del Monte (Madrid) from Bermejo & Williamson Real Estate (BWRE). The project, part of Greystar’s growing flexible living platform, will add 458 fully furnished rental units to its Be Casa brand.

The plot, located in a prime residential area of the Spanish capital, already has permits in place from the city council. A €56.1 million construction loan has been secured from Eldridge Real Estate Credit to finance the project, which is expected to be completed by 2027. Also, the development will feature studios, as well as one- and two-bedroom flats, aligning with growing demand for high-quality, flexible rental housing in urban areas.

This acquisition strengthens Greystar’s position in Spain’s residential rental market, expanding its Be Casa portfolio to over 5,000 units (including pipeline). The brand recently entered the Barcelona and Bilbao markets in January 2025.

Advisors

Jones Day advised Greystar with a single team comprising lawyers from London and Madrid, and was led by partners Javier Muñoz Méndez (Real Estate – Madrid), Iván Martín-Barbón (Real Estate Finance – Madrid), Blanca Puyol (Corporate – Madrid), and Emily Stew (Real Estate Finance – London). The team was assisted by of counsel Carlos Albiñana, counsel Ángel Magdaleno, and associates Luis Pérez Casas, Yuanlong Lang, Priscilla Rojas, Carolina Naranjo, Enrique Anguiano, Eugenia Pemán, Katie Park, Joshua Shenoy.

Dentons advised BWRE.

Herbert Smith Freehills advised Eldridge Real Estate Credit. The team has been formed by Sergio Cires Díez (partner), Tomás Díaz Mielenhausen (partner); Luis Clouet (of counsel); Marta Esteban (of counsel); Marta Escartin Goizueta (senior associate); Dany Al-Tinawi Huertas (associate); Ricardo Echevarría González (associate); and Blanca Gil Ortiz (junior associate).