Two giants on Spain’s real estate sector, Merlin and Metrovacesa, are planning to join forces to create a single vehicle in which they would place residential assets that they currently rent out. The companies together own almost 5,000 flats, 1,500 of Merlin’s and 3,500 of Metrovacesa, which inherited most of them from its shareholder banks. Merlin is reportedly interested in separating its residential holdings from its primary focus which is commercial real estate (offices, logistics and retail).
