CuatrecasasCuatrecasas advises Kronos on setting up joint venture with Nuveen Real Estate advises Kronos on setting up joint venture with Nuveen Real Estate
Cuatrecasas lawyers advised Kronos, one of the main real estate investor and management groups in Spain and Portugal, on setting up a joint venture with Nuveen Real Estate, one of the largest investment managers in the world.
Managed by Kronos subsidiary STAY, the joint venture aims to develop 5,000 build-to-rent homes in Spain, valued at €1 billion. It will manage an initial portfolio of approximately 1,400 homes in five locations and a portfolio investment of over €250 million, with a second investment of €325 million in the coming months. The developments will be located in Madrid, Valencia, Tarragona and Cordoba, with projects of between 120 and 500 residential units.