Neinor acquires triple plot in Valencia & Tarragona

Spanish developer Neinor Homes has acquired three plots in Valencia and Tarragona for €22.6m (£20.4m), covering 365,000 sq ft and with potential for more than 300 units.

These acquisitions take Nenor’s fully permitted land bank to 12,000 units and were funded with the firm’s recently obtained JP Morgan bridge financing.

The larger site in Valencia, is located in Benicalap district, a consolidated residential area of the city and can accomodate more than 200 units. Alongside this, 90 units are projected across two land plots in Tarragona located in the sector Juan XIII.

Total acquisitions for Neinor since January have now reached €248m, having fulfilled 100% of 2017 and 27% of its 2018 targets.

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