Latest news with #NeinorHomes
Business Insider
6 days ago
- Business
- Business Insider
Neinor Homes (0RNU) Gets a Buy from Kepler Capital
Kepler Capital analyst Julian Megias maintained a Buy rating on Neinor Homes (0RNU – Research Report) on June 4 and set a price target of €16.10. The company's shares closed last Wednesday at €14.10. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter According to TipRanks, Megias is ranked #5355 out of 9575 analysts. Currently, the analyst consensus on Neinor Homes is a Moderate Buy with an average price target of €15.65. The company has a one-year high of €17.90 and a one-year low of €11.86. Currently, Neinor Homes has an average volume of 2,394.
Bloomberg
27-05-2025
- Business
- Bloomberg
Neinor Said to Show Interest in Rival Spain Developer Aedas
Neinor Homes SA has shown interest in acquiring a significant stake in rival Aedas Homes SA, according to people familiar with the matter. Neinor has signaled to Aedas' main shareholder Castlelake LP its interest in discussing a potential deal for the private equity firm's 79% stake in Aedas, according to two people. Apollo Global Management Inc. is working with Neinor to provide funding for the deal, said the people, who asked not to be identified as talks aren't public.
Associated Press
12-05-2025
- Business
- Associated Press
Neinor completes strategic monetization of BTR portfolio, unlocking c.€325mn since 2023
MADRID, May 12, 2025 - Neinor Homes ('Neinor', the leading listed residential property developer in Spain, has completed the sale of two build-to-rent (BTR) projects located in the provinces of Guadalajara and Seville, Spain, to real estate asset manager Round Hill Capital. These BTR schemes have finished construction works during 2024 and are fully operational. Additionally, Neinor has reached an agreement to sell three rental buildings, comprising 128 housing units, located in the provinces of Malaga, Alicante and Valencia to 1810 Capital. The assets belonged to the Sardes Portfolio that was acquired by Neinor in early 2021. Furthermore, as part of the agreement, Neinor will continue to manage and operate these buildings under its rental OpCo, Renta Garantizada. The transactions amount to approximately €50mn. Moreover, these sales will enhance free cash flow generation without a material impact on Neinor's income statement for 2025. Savills advised Neinor on both deals. These deals reflect the appetite for rental housing in Spain and underscores the successful execution of Neinor's BTR monetization strategy Since the presentation of its Strategic Plan, Neinor has sold a total of eleven rental assets to institutional investors, comprising 1,334 housing units located in the provinces of Madrid, Guadalajara, Valencia, Seville, Alicante and Málaga. These sales have generated proceeds of approximately c.€325mn with attractive gross development margins of 24%. Specifically, Neinor sold the following developments: With these transactions, Neinor has completed the monetization of its BTR portfolio. The remaining rental assets, including part of the Sardes portfolio and Olarizu Homes, have been transferred to the build-to-sell strategy and are being commercialized on a retail basis - following the same approach previously applied to over 1,300 units across projects such as Sue 21, Zorrozaurre, Serena, and others. Commercialization environment remains highly dynamic benefiting from solid fundamentals and reiterates positive sector outlook for 2025 Earlier this month, Neinor announced that during 1Q25 has pre-sold 670 build-to-sell (BTS) units, reflecting an 86% year-on-year increase in volumes and 97% year-on-year increase in economic value. This performance was driven by the solid fundamentals of the Spanish Residential sector as well as the ramp-up of the Asset Management division, which allowed Neinor to significantly scale up projects under commercialization. Including BTR disposals, Neinor has pre-sold 921# for €295mn in its strongest start of the year ever. Borja García-Egotxeaga, CEO of Neinor Homes, commented: 'Looking back I am pleased to note that our strategy with a mix between build-to-sell and to-rent disposals has been extremely successful to crystallize the value of Neinor's BTR portfolio, while protecting business margins, accelerate cash flows and optimize our balance sheet. These disposals have played a critical role to fund Neinor's €600mn shareholder remuneration target. Year-to-date we have already distributed c.€125mn in 1Q25 and, more recently, we approved another €31mn payable this week.' Jordi Argemí, Deputy CEO and CFO, stated: 'From a business standpoint nothing has changed in the sector fundamentals as we continue to benefit from accumulated housing demand, lack of supply while financing conditions for homebuyers continue to improve. The margin outlook for FY25-26 continues to improve as we benefit from a solid forward sales position to maximize selling prices. Although gross margins in FY23-24 have been amongst the highest in our history, we are optimistic for upcoming years.' -ENDS- About Neinor Homes Neinor Homes is the leading residential property developer in Spain, with a land bank to develop c12,000 homes, and a GAV to December 2024 of €1.5bn. This land bank is located in some of the fastest growing regions with the best economic fundamentals in Spain: Madrid, Western and Eastern Andalusia, Levante, Basque Country and Catalonia. Neinor is a fully integrated and well-established residential platform of scale in Spain, covering the entire development value chain from land buying, planning and urban management, product design, delegated development and construction, sales and marketing and rentals. We are committed to creating and delivering attractive risk adjusted returns for shareholders through our disciplined capital allocation strategy and our excellence in operations and risk management. We are the only listed residential property developer with a multi-sector strategy to market in Spain, and our strategies include Build-to-rent (BTR); Build-to-sell (BTS); and the largely untapped senior living rental market in Spain, which we are progressing. Neinor's operational excellence, investment strategy and results achieved since 2019 have enabled us to deliver on our 5-year business plan, launched in March 2023, in a sustainable and capital-efficient manner. This plan combines a €600 million shareholder remuneration plan and an investment of €1 billion in new opportunistic land acquisitions, half of which are expected to be undertaken in joint ventures with strategic partners through co-investment agreements, with a +20% IRR target. We offer shareholders attractive risk adjusted returns in a country where there are strong and sustainable supply and demand fundamentals and supported by a resilient macroeconomic environment and outlook. Spain remains one the most attractive and safest residential markets worldwide, with one of the lowest ratios of new supply per capita globally since 2013. For more information: NEINOR HOMES Investor Relations Department [email protected] Contact Elena Torres Quilis - [email protected] Irene Osuna Díez - [email protected] 91 563 77 22 Attachment
Yahoo
12-05-2025
- Business
- Yahoo
Neinor completes strategic monetization of BTR portfolio, unlocking c.€325mn since 2023
DELTA RENTAL HOMES Neinor Homes has sold five rental buildings, totalling 251 housing units for c.€50mn Since 2023, Neinor Homes has sold a total of 1,334 rental units, for c.€325mn with an attractive gross development margin of 24.8% After this disposal, Neinor has successfully concluded its objective to fully crystallize the value of its rental portfolio Including figures from 1Q25, Neinor pre-sold a total of 921 housing units in its strongest ever start of the year MADRID, May 12, 2025 - Neinor Homes ('Neinor', the leading listed residential property developer in Spain, has completed the sale of two build-to-rent (BTR) projects located in the provinces of Guadalajara and Seville, Spain, to real estate asset manager Round Hill Capital. These BTR schemes have finished construction works during 2024 and are fully operational. Additionally, Neinor has reached an agreement to sell three rental buildings, comprising 128 housing units, located in the provinces of Malaga, Alicante and Valencia to 1810 Capital. The assets belonged to the Sardes Portfolio that was acquired by Neinor in early 2021. Furthermore, as part of the agreement, Neinor will continue to manage and operate these buildings under its rental OpCo, Renta Garantizada. The transactions amount to approximately €50mn. Moreover, these sales will enhance free cash flow generation without a material impact on Neinor's income statement for 2025. Savills advised Neinor on both deals. These deals reflect the appetite for rental housing in Spain and underscores the successful execution of Neinor's BTR monetization strategy Since the presentation of its Strategic Plan, Neinor has sold a total of eleven rental assets to institutional investors, comprising 1,334 housing units located in the provinces of Madrid, Guadalajara, Valencia, Seville, Alicante and Málaga. These sales have generated proceeds of approximately c.€325mn with attractive gross development margins of 24%. Specifically, Neinor sold the following developments: Hacienda Homes (146 units) to Kygal; Sky Homes (213 units) to Savills IM; Europa Homes (146 units) to Harrison Street and DeA Capital; Dual Homes (94 units) to CBRE IM; Alovera Homes (337 units) to Avalon Properties; Parla Homes (147 units), Delta Homes (57 units) and Sevilla Homes (66 units) to Round Hill Capital; Pacifico Homes (28 units), Campanar Homes (60 units) and Novo Parque Homes (40 units) to 1810 Capital; With these transactions, Neinor has completed the monetization of its BTR portfolio. The remaining rental assets, including part of the Sardes portfolio and Olarizu Homes, have been transferred to the build-to-sell strategy and are being commercialized on a retail basis - following the same approach previously applied to over 1,300 units across projects such as Sue 21, Zorrozaurre, Serena, and others. Commercialization environment remains highly dynamic benefiting from solid fundamentals and reiterates positive sector outlook for 2025 Earlier this month, Neinor announced that during 1Q25 has pre-sold 670 build-to-sell (BTS) units, reflecting an 86% year-on-year increase in volumes and 97% year-on-year increase in economic value. This performance was driven by the solid fundamentals of the Spanish Residential sector as well as the ramp-up of the Asset Management division, which allowed Neinor to significantly scale up projects under commercialization. Including BTR disposals, Neinor has pre-sold 921# for €295mn in its strongest start of the year ever. Borja García-Egotxeaga, CEO of Neinor Homes, commented: 'Looking back I am pleased to note that our strategy with a mix between build-to-sell and to-rent disposals has been extremely successful to crystallize the value of Neinor's BTR portfolio, while protecting business margins, accelerate cash flows and optimize our balance sheet. These disposals have played a critical role to fund Neinor's €600mn shareholder remuneration target. Year-to-date we have already distributed c.€125mn in 1Q25 and, more recently, we approved another €31mn payable this week.' Jordi Argemí, Deputy CEO and CFO, stated: 'From a business standpoint nothing has changed in the sector fundamentals as we continue to benefit from accumulated housing demand, lack of supply while financing conditions for homebuyers continue to improve. The margin outlook for FY25-26 continues to improve as we benefit from a solid forward sales position to maximize selling prices. Although gross margins in FY23-24 have been amongst the highest in our history, we are optimistic for upcoming years.'-ENDS-About Neinor Homes Neinor Homes is the leading residential property developer in Spain, with a land bank to develop c12,000 homes, and a GAV to December 2024 of €1.5bn. This land bank is located in some of the fastest growing regions with the best economic fundamentals in Spain: Madrid, Western and Eastern Andalusia, Levante, Basque Country and Catalonia. Neinor is a fully integrated and well-established residential platform of scale in Spain, covering the entire development value chain from land buying, planning and urban management, product design, delegated development and construction, sales and marketing and rentals. We are committed to creating and delivering attractive risk adjusted returns for shareholders through our disciplined capital allocation strategy and our excellence in operations and risk management. We are the only listed residential property developer with a multi-sector strategy to market in Spain, and our strategies include Build-to-rent (BTR); Build-to-sell (BTS); and the largely untapped senior living rental market in Spain, which we are progressing. Neinor's operational excellence, investment strategy and results achieved since 2019 have enabled us to deliver on our 5-year business plan, launched in March 2023, in a sustainable and capital-efficient manner. This plan combines a €600 million shareholder remuneration plan and an investment of €1 billion in new opportunistic land acquisitions, half of which are expected to be undertaken in joint ventures with strategic partners through co-investment agreements, with a +20% IRR target. We offer shareholders attractive risk adjusted returns in a country where there are strong and sustainable supply and demand fundamentals and supported by a resilient macroeconomic environment and outlook. Spain remains one the most attractive and safest residential markets worldwide, with one of the lowest ratios of new supply per capita globally since more information: NEINOR HOMESInvestor Relations Elena Torres Quilis - etorresq@ Osuna Díez - iosuna@ 563 77 22 Attachment DELTA RENTAL HOMESError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
10-02-2025
- Business
- Associated Press
Neinor Homes steps into flex living with Banco Santander and will co-invest €60mn in a project located in Madrid
Neinor Homes and Banco Santander have reached an agreement to invest more than €60mn to develop 160 'flex living' apartments in the city of Madrid With this agreement Neinor Homes enters a new product vertical within the thriving Spanish living sector further diversifying its housing offering This agreement represents the 8th JV signed by Neinor Homes since 2023, having raised +€1.2bn, more than doubling the initial expectation set on its Strategic Plan (2023-27) of €500mn Going forward, both entities will continue to explore additional investment opportunities in the Spanish 'flex living' MADRID, 10 February 2025 – Neinor Homes ('Neinor"; 'HOME SM'), a Spanish leading listed residential property developer, and Santander Alternative Investments, the alternative asset management platform from Santander bank, alternative investment arm of Banco Santander ('Santander') have reached an agreement to create a joint venture (JV) to develop 160 'flex living' apartments with a total investment expected of more than €60mn. Neinor will hold a 10% stake in the JV by contributing the land plot to be developed, while Santander will hold the remaining 90% stake. Savills and Colliers have acted as investment and commercial advisors to Neinor and Santander in the deal, while Perez Llorca and CMS Albiñana acted as legal advisors. The asset is located in the municipality of Madrid close to the A-2 highway in the Las Mercedes neighbourhood at just 10 minutes from the Barajas International Airport and 15 minutes from the city centre of Madrid. It will comprise 160 one-bedroom apartments with a total GLA of 9,500 sqm. The development is scheduled to be delivered in 2028. 'Flex living' is one of the fastest growing segments within the Spanish living sector 'Flex living' is the most comprehensive rental product on the market providing a broader array of services than traditional accommodation from amenities (e.g. coworking, gym, swimming pool or event rooms) to advanced services (e.g. high-speed Wi-Fi, utilities, cleaning and maintenance). It includes hospitality-type contracts that are more short-term and a community mindset with curated events, on-boarding process and marketing events for tenants. As mentioned, this wide array of services is significantly better when compared to the traditional multifamily product that is not professionally managed, including purposely Built-to-Rent (BtR) product. According to CBRE, the average age for tenants is 31 years old, 30% are students, 73% are single and 61% are foreigners. Furthermore, this product barely exists in the Spanish rental market, where there are approximately 2 million households. In the last five years 'flex living' supply has increased five-fold to roughly 10,000 apartments, of which 90% are concentrated in the cities of Madrid, Barcelona, Málaga and Valencia. According to CBRE, 'flex living' supply is expected to triple up to 30,000 apartments until 2027. Accordingly, investment volumes in flex living have surged in recent years to €974mn in the first nine months of 2024 (compared to €535mn euros in the same period of 2023). Since 2023, Neinor raised +€1.2bn equity for its joint-venture business, more than doubling its €500mn target until 2027 Neinor's co-investment strategy plays a key role within the Strategic Plan announced in March 2023 as the Group puts a greater emphasis on optimising its balance sheet while pursuing equity-efficient growth. Neinor had a target to raise €500mn from new strategic partners through to 2027 and, with the eight partnerships announced to date, the company has more than doubled its 5-year target by raising +€1.2bn in assets under management in the first two years of the business plan, of which more than €800mn have been deployed and Neinor has committed more than €50mn. Since March 2023, for its core Build-to-Sell (BTS) business, Neinor has signed six partnership agreements with renowned investors (AXA IM Alts, Orion Capital, Urbanitae, Avenue Capital, Bain Capital and more recently Ameris Capital). Through these, Neinor is now managing a portfolio of nearly 7,000# to be delivered in the upcoming years. With regards to Build-to-Rent (BTR), in July 2024, Neinor announced an agreement with Octopus Real Estate to invest €200mn in the Spanish independent senior living sector. Now, through this JV with Santander, Neinor further complements its housing offer and enters the flex living segment. Borja García-Egotxeaga, Neinor Homes CEO, commented: 'We are extremely proud that one of the largest financial institutions worldwide has trusted Neinor Homes as industrial partner to develop much needed housing supply in the Spanish market. Furthermore, I would like to add that we will continue to work alongside Santander to grow this partnership in the coming years.' Jordi Argemí, Neinor Homes' Deputy CEO and Chief Financial Officer, commented that: 'The emerging living asset classes represent a huge opportunity for Neinor Homes to continue to grow our platform in the coming years. Thanks to Neinor's joint venture model, where we take minority stakes and act as development partner, we can approach these opportunities in an asset-light manner and generate attractive returns to both our shareholders and co-investors.' LLYC 91 563 77 22 Neinor Homes Investor Relations Department
