Milan, 10 July, 2023 – Today the joint venture between DeA Capital and Harrison Street – set up in August 2022 to construct built-to-rent residential housing in Spain – acquired Europa Homes, a modern residential complex located in Madrid, from Neinor Homes, a Spanish residential developer with over 30 years of experience in building high-quality, sustainable assets. This latest transaction is the seventh for the JV, which as a result will have over 1,300 BTR units under management in major Spanish cities. It will be operated under the name LAVIDDA, a new housing company and a new way of life.

Europa Homes was completed in the second quarter of 2023 and will be marketed as Soto Rental Homes. The asset is located in an urban area of Madrid with an excellent subway connection, just 10 minutes from Barajas International Airport and close to a wide range of services such as Infanta Sofia University Hospital, malls such as the Plaza Norte shopping center or The Style Outlet, the Arroyo de la Vega business park and the European University.

The complex is divided into two identical buildings with a total of 146 units, including 30 lofts, 68 two-bedroom apartments and 48 three-bedroom apartments. The space offers comprehensive tenant services, with a swimming pool and vertical garden, a state-of-the-art gym, dedicated play areas and a café and restaurant.

The asset was developed in view of sustainable building standards to meet the strict criteria of the EU taxonomy and has received the EPC A label. Once fully functional, the property is also expected to be awarded the prestigious BREEAM® (Building Research Establishment Environmental Assessment Method) in-Use rating.

As part of the agreement, Neinor will continue to manage the asset for the next year through its operating company (OpCo), Renta Garantizada.

The JV between DeA Capital and Harrison Street confirms the successful combination of the two companies’ proven expertise. This latest transaction is in continuity with the development of high-quality rental housing in major European markets, with a constant focus on the fundamental dynamics of supply and demand.

DeA Capital Real Estate SGR S.p.A. is Italy's leading asset management company specializing in real estate alternative investment funds (AIFs), with a market share of more than 22.5%. It manages €12.6 billion in assets through 55 real estate funds, two of which are listed on the MIV segment of the Italian Stock Exchange, and a SICAF. DeA Capital Real Estate SGR is a leader in the Italian real estate market, with assets consisting of 770 properties, 70% of which are located in Rome and Milan, and an important portfolio of partners, made up of around 100 Italian and international institutional investors. DeA Capital Real Estate SGR has always shared and promoted the principles of ethics, legality and respect for human rights as well as current regulations, making them the heart of its strategy. It understands that managing risks and opportunities related to environmental, social, and governance (ESG) issues and integrating related factors into its investment process supports value creation and growth in the medium to long term.