Aviva Investors has strengthened its presence in Spain’s build-to-rent (BTR) market with the acquisition of a new residential development site in Valencia.
The latest deal marks Aviva Investors’ sixth BTR investment in Spain since entering the market in 2022, following earlier schemes in Madrid, Barcelona and Palma de Mallorca. The Valencia project will be delivered and managed by Propia, the joint venture between Aviva Investors and Spanish residential developer Layetana Living.
The scheme will comprise a 120-home development across 11 storeys, offering a mix of one- and two-bedroom apartments. Designed with sustainability and long-term rental demand in mind, the building is targeting a BREEAM “Excellent” certification and an EPC rating of AA.
Residents will have access to a range of shared amenities, including a gym, co-working space, swimming pool and a dedicated children’s play area, reflecting the growing emphasis on lifestyle-led rental housing in Spain’s major urban centres.
The Valencia acquisition takes Aviva Investors’ Spanish BTR portfolio to more than 1,100 apartments, with a combined gross development value (GDV) in excess of €350 million. The portfolio forms part of the asset manager’s broader strategy to increase exposure to high-quality, professionally managed rental housing across Europe, backed by long-term institutional capital.
The move underlines continued investor confidence in Spain’s rental market, where strong urbanisation trends, limited new housing supply and rising demand for professionally managed rental homes are supporting long-term fundamentals.
