AEDAS Homes continues to consolidate its leading position in Spain’s residential development market with the acquisition of Inmobiliaria Espacio (registered name: Priesa). This transaction, which confirms AEDAS Homes' growth strategy, entails the acquisition of a substantial portfolio of ready-to-build land and represents a significant boost for the development of affordable housing.
With the Inmobiliaria Espacio purchase, AEDAS Homes is acquiring ready-to-build land with a development capacity for 800 units. The vast majority of this land is in the Spanish homebuilder’s current footprint and will be transferred to four of its six Regional Branches: Centre, East & Mallorca, Costa del Sol, and Andalusia & Canary Islands. The developer is gaining assets in the provinces of Madrid, Alicante, Valencia, Valladolid, Mallorca, Almería, Murcia and Málaga.
As part of the transaction, AEDAS Homes will be integrating the Inmobiliaria Espacio team, with their extensive local experience, and a recognized real estate brand with over half a century of history and a strong track record in residential development across Spain into its current business activity.
Alternative “Living” projects
With the Inmobiliaria Espacio purchase, AEDAS Homes is also acquiring assets in the alternative space, including a 500-unit coliving project in Madrid, and six development management contracts for co-investment partners, which will further strengthen its asset-light Real Estate Services division.
Growth strategy
“AEDAS Homes is well-positioned to maximize the current opportunity for growth that the new-build sector offers. This investment increases our capacity and product offerings in prime locations, while providing significant value to our shareholders,” explained David Martínez, CEO of AEDAS Homes.
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