Aviva Investors has expanded its Spanish build-to-rent (BTR) portfolio by acquiring a second residential development site in Valencia. The global asset manager has acquired the brownfield development site for a 132-unit residential project across two blocks. The asset, in the Jesús district of Valencia, will be managed by Propia, a dedicated real estate operating platform launched last year through a partnership between Aviva Investors and Spanish developer Layetana Living. Construction is expected to start in the second half of 2027. The latest acquisition represents Aviva Investors’ second BTR scheme in Valencia, following a transaction in the city’s Paterna municipality in January. Since 2022, Aviva Investors has completed seven investments in the Spanish BTR sector. The firm’s portfolio currently comprises more than 1,200 apartments across Valencia, Madrid, Barcelona and Palma de Mallorca, representing a gross development value of over €360m.
Source: IPE Real Assets on 18 May 2026
https://realassets.ipe.com/news/aviva-investors-buys-second-valencia-residential-development-site/10136768.article