Spanish BTR market gives Nuveen chance to diversify

Although Nuveen is active in the logistics sector and has large retail assets under management the asset manager is currently focused on build-to-rent housing as a means of diversifying the investment portfolio, senior portfolio manager Javier Martin explained.

In Spain the company has established a joint venture with Kronos Real Estate Group. Now two years old, the JV has created a brand called Stay which is beginning to deliver new developments and has more sites for development.

“We are creating a platform of 3,000 units that are build-to-rent, all over Spain: in Madrid, Barcelona, and in locations like Valencia, Cordoba and Pamplona. There are certain regions that we think it’s going to work very well and we are creating a very standardised model with economies of scale,” Martin told Real Asset Insight.

ESG is to the forefront and as well as energy efficiency measures technology is being used to manage the units “to provide tenants with the best service for the for the future,” he added.