MADRID, SPAIN – Greystar Real Estate Partners, a global leader in the investment, development, and management of high-quality rental housing, has forward bought a substantial flexible accommodation portfolio of 2,500 units in Madrid, Spain, for a managed discretionary fund from King Street Real Estate GP, a leading global alternative investment firm that partnered with Greystar and Momentum REIM in 2019 to buy three sites to be used for flexible accommodation.
The highly innovative concept will comprise three buildings located in the north and south of the Madrid metropolitan area in Rivas, San Sebastián de los Reyes and Valdebebas. They will operate under a new brand that will be unveiled at a later date, and guests will benefit from purpose-designed rooms and superior amenities including a gym, co-working space, pool, outdoor space and a dedicated concierge service. The buildings, which are currently under construction, are targeting a BREEAM rating of “Very Excellent.”
Juan Acosta, Managing Director – Spain, Greystar, said; “The Madrid market is characterized by a significant under supply of all types of rental accommodation, including flexible and attainable solutions. The acquisition provides us with a portfolio of significant scale in this highly attractive city that will be purpose-designed and built for guests requiring a place to stay away from home.”
Paul Brennan, Managing Director and Head of European Real Estate, King Street, said, “The sale of this portfolio underscores King Street’s ability to successfully do on our strategy of delivering BREEAM “Very Excellent” rated alternative living assets in Spain, where we still see a significant opportunity to grow given the under provision of purpose-built institutional product in the market.”
King Street has committed over $4 billion of equity across 60 private real estate transactions since 2010. King Street has been investing in real estate in Spain since 2012. To date, King Street has directly and indirectly invested more than $1 billion of equity into real estate in Spain.
King Street was advised by Eastdil, Linklaters and Cuatrecasas. Greystar was advised by Jones Day, EY, Arcadis and Deloitte.

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FORT LAUDERDALE, FL – Urbane Capital Management, a real estate investment and development firm, has announced plans to develop 8Hundred North, a luxury townhome community in the exclusive neighborhood of Victoria Park at 800 NE 2nd St in Fort Lauderdale. The development will offer expansive three-bedroom floorplans that range in size from 2,400-2,700 square feet. The project received site plot approval on May 10th. Groundbreaking is scheduled for Q3 2022.
“8Hundred North’s strategic location within Victoria Park offers unparalleled walkability and access to downtown living in East Fort Lauderdale,” stated Amin Jamal, Managing Principal of Urbane Capital. “8Hundred North is just steps away from the incredible restaurants, shopping and nightlife on Las Olas Boulevard, as well as emerging Flagler Village and Downtown Fort Lauderdale.”
Urbane Capital has teamed up with award-winning architect Stewart Robin of Nest Plans to design townhomes that blend modern architecture and clean lines with warm natural tones and an open floor plot. We are focused on assembling a team of architects, designers, engineers, and construction firms that share our vision for uncompromising quality, and the result will be an exceptional community of townhouses,” said Nitin Jain, Co-Founder and Principal of Urbane Capital.
8Hundred North is the newest luxury development in Victoria Park. The tree-lined and family-friendly Victoria Park neighborhood is known for its vibrant and open-minded community ethos. Residents delight in an abundance of conveniences and amenities a small walk or bike ride away, including the beaches of Fort Lauderdale and gorgeous Hugh Taylor Birch State Park.
The City of Fort Lauderdale is centrally located 25 miles north of Miami and 20 miles south of Palm Beach County. Fort Lauderdale boasts over 165 miles of waterways and canals, and seven miles of pristine beaches with refreshing ocean breeze.

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KNOXVILLE, TN – Capital Square, one of the nation’s leading sponsors of tax-advantaged real estate investments and an active developer of multifamily communities, announced the acquisition of Village at Westland Cove, a Class A, 240-unit multifamily community in Knoxville, Tennessee. The community was bought on behalf of CS1031 Village of Westland Cove Apartments, DST.
“This is Capital Square’s sixth acquisition of a multifamily community in Tennessee for the DST/1031 exchange program,” said Louis Rogers founder and chief executive officer of Capital Square. “Village at Westland Cove is located in one of the hottest housing markets in the nation for 2021. Employment in the area is exceptionally strong, with the Oak Ridge Reservation and National Laboratory, operated by the U.S. Department of Energy, only 19 miles away, generating 14,667 full-time jobs and wages totaling over $1.3 billion.”
Completed in 2019, Village at Westland Cove is located at 9635 Westland Cove Way along Interstate 140. The 28.2-acre luxury multifamily community sits on the shore of scenic Fort Loudoun Lake. It offers one-, two- and three-bedroom units averaging 1,147 square feet with best-in-class amenities. The community features include a state-of-the-art fitness center, Amazon lockers and coolers for grocery deliveries, car care center, two pet play areas, coffee bar, business center, food truck nights, gaming patio with bocce ball court, outdoor firepit, outdoor kitchen, club house, swimming pool, kayaks available to residents, as well as lake access via a resident dock.
Village at Westland Cove is located within close proximity of The Pinnacle at Turkey Creek, a 650,000-square-foot shopping center that includes more than 65 retail stores and restaurants. The property is in the 10th hottest housing market in the country for 2021, with a 5-year value increase of 55%, according to Zillow Group. Turkey Creek Medical Center, a Level III trauma center that is part of Tennova Healthcare, lies within two miles of the property. Situated further along the I-140 and I-40 are attractions such as Knoxville Museum of Art, Market Square and Zoo Knoxville.
The Oak Ridge Reservation, operated by the U.S. Department of Energy and home to Oak Ridge National Laboratory, is approximately 19 miles from the Village at Westland Cove and is the largest employer in the area. According to the East Tennessee Economic Council, approximately 14,667 full-time jobs were directly provided by the DOE and its major contractors within Tennessee in 2020, with annual wages and salaries totaling nearly $1.311 billion. WBIR.com reports that Bill Lee, Tennessee’s governor, recently announced a $72 million budget for the UT-Oak Ridge Innovation Institute, a collaboration between the University of Tennessee and Oak Ridge National Laboratory, in a bid to attract and maintain science, technology, engineering and mathematics (STEM) talent in the Knoxville area.
“Village at Westland Cove is an exceptional multifamily property located in an idyllic setting with luxury amenities throughout,” said Whitson Huffman, chief strategy and investment officer. “The local economy is thriving, with low unemployment, high average household income and growing demand for high-end apartment living such as that provided to the residents of Village at Westland Cove.”
Data from Esri shows the average household income within a three-mile radius of the property reaches approximately $130,000. According to Yardi Matrix, Knoxville’s rental rates are rising along with demand, with 18% year-over-year rent growth and 98.1% average occupancy as of March 31, 2022.
The Bureau of Labor Statistics reports that Knoxville witnessed an increase of over 19,000 job opportunities since February 2021, with unemployment rates reaching 2.8%. According to the BLS, job opportunities in the area should continue to grow with 3M Company announcing plans to invest approximately $470 million to expand their manufacturing facility in the Knoxville MSA, making 600 new jobs by 2025.
Taylor Bird, Nelson Abels, Robert Stickel, and Alex Brown of Cushman & Wakefield represented the seller.
Bird, executive director of Cushman & Wakefield, noted, “The Village at Westland Cove offers a truly unique asset coupled with an unrivaled amenity package, interior finishes and gorgeous water views.”

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