Nuveen Real Estate and Kronos to Develop BTR in Spain
Posted on 09/27/2020
Nuveen Real Estate is partnering with Kronos Investment Group, an Iberian property developer to construct €1 billion worth of build-to-rent (BTR) homes in Spain. Kronos will act as the development and property manager via its subsidiary BTR subsidiary STAY.
The new housing venture is being seeded with an initial €250 million portfolio. In addition, a further €325 million worth of assets is expected to be added in the coming months.
Saïd Hejal is the CEO of Kronos, he used to work at Fortress Investment Group.
