MADRID, 21 Abr. (EUROPA PRESS) -

The American real estate manager Greystar and the Spanish developer Vía Célere have signed a green financing agreement with CaixaBank worth 197.5 million euros for the acquisition and management of 22 residential developments for rent in high-demand locations in Madrid, Málaga , Seville, Valencia and Bilbao.

The financing term is seven years and the agreement also includes coverage that protects in the event of an interest rate rise during this period, as reported by CaixaBank, which recalls that this is the largest green real estate loan granted by the bank this year in Spain.

In 2022, the entity granted 8,074 million euros in green financing, of which 43.7% (3,532 million euros) was allocated to real estate projects. DLA Piper has advised CaixaBank on this operation.

Greystar and Vía Célere, through their 'joint venture', have 22 buildings in large Spanish cities. 88% of the developments are under construction and 66% will be delivered throughout 2023; the remaining percentage is scheduled to be completed between 2024 and 2025.

This portfolio will operate under the 'Be Casa Essential' brand and will comprise affordable one to three bedroom homes designed specifically for rental. The promotions will be equipped with common areas and services for tenants such as a gym, co-working, social club and community pool, among others.

'Be Casa Essential' is the result of the spin-off of the 'Be Casa' brand, owned by Greystar, which already operates a portfolio of 2,500 'flex living' apartments in Spain. In the operation, Jones Day has acted as advisor to the 'joint Venture'.

"This announcement of a green financing agreement with CaixaBank is a step forward in our goal of increasing the supply of quality, sustainable rental housing in Spain. At Greystar we are very proud to guarantee through this agreement sustainable construction and efficiency of our buildings", declared the general director of Greystar in Spain, Juan Manuel Acosta.