STAY by Kronos BTR platform acquires plots to develop 600 new homes
The developments will be completed in the first quarter of 2025.
STAY by Kronos, the Build to Rent (BTR) platform by Kronos Real Estate Group and Nuveen Real Estate, has acquired two plots of land in Madrid and Barcelona to develop over 600 new homes under its innovative premium rental housing model.
Following this latest transaction, STAY by Kronos now boasts 11 developments in Valencia, Tarragona, Pamplona, Cordoba, Barcelona, and the Region of Madrid, with the latter region accounting for 55% of the total portfolio.
The two new plots are located in Alcalá de Henares, Madrid, where 332 new rental homes will be built, and Sant Pere de Ribes in Barcelona, which borders Sitges and Vilanova i la Geltrú and will be home to 302 new units.
The project will entail investments of €62m and €66m respectively and both will be completed in the first quarter of 2025.