Grupo Lar, a company specializing in investment, development, and property management, has closed a new deal in Barcelona, buying a plot of 8504 sq. m., where 75 one, two, and three-bedroom houses will be built in Sant Adria de Besos. They are expected to be completed and available for rent in the first half of 2024.
This project, in which Grupo Lar is going to invest 21.4 million euros, is an addition to the one already under construction in L'Hospitalet de Llobregat.
"Thanks to this deal, we now have two projects in Barcelona and a total of 161 houses for rent. Barcelona is a very dynamic market, where we have also identified a shortage of this type of real estate. Therefore, we at Grupo Lar believe it is necessary to meet the demand by providing access to a quality offer and professional management that meets the needs of our future tenants," says Jorge Pereda, director of rental housing at Grupo Lar.
The residential complex is located in the fully consolidated area of Sant Adria del Besos. The construction of the complex with large communal areas will be completed in the first half of 2024.
The 75 houses are part of the platform portfolio created by a joint venture between Primonial and Grupo Lar, which aims to develop and manage 5,000 rental houses in the main cities of Spain in the long term.