The housing developer Neinor Homes is selling off 72 planned apartment buildings for €20 million whose rentals it will manage for at least three years. The apartments are located in five ongoing developments by Borja Garcia-Egotxeaga due for delivery between the end of 2020 and 2022. The buyer is Global Hespérides, which is in turn linked to the investment firm 1810 Capital Investments.
The real estate company was founded by Argentines Jorge Pepa and Francis Betsch in 2014. The company manages assets worth more than €150 million through a variety of investments and joint ventures across Spain. It recently purchased more than a dozen buildings located in central Madrid that are due for renovations and conversion into luxury homes.
