Stoneweg and BGO launch a 500 million euro platform to lead the living business in Spain

Stoneweg Spain and Bentall Green Oak (BGO), real estate investment firms, have sealed a strategic alliance to create a joint platform aimed at developing living projects in Spain, one of the real estate segments that is gaining the most traction in the country due to the shortage of supply and the growing demand for flexible residential solutions. The total investment planned by both entities is around 500 million euros. The agreement seeks to consolidate a reference operator in a market that is in full institutionalization and which, according to both firms, requires new housing models adapted to demographic, labor and mobility changes. The proposal focuses on flex living, a hybrid format between housing and temporary accommodation that has exploded in the main Spanish cities due to the lack of options for young professionals, displaced workers and companies that need solutions for temporary staff. The new platform takes as a starting point Stoneweg’s previous experience in this segment through its Bext Space brand, with two recent projects: Bext Vallecas, sold this year to the GMP group, and Bext Valdebebas, which will be the first asset that the joint venture will incorporate. The latter, as an aparthotel, has 583 units including studios and one- and two-bedroom apartments, as well as common areas with a gym, coworking, paddle tennis courts and a swimming pool. The asset has BREEAM Excellent environmental certification and has been financed by Aareal Bank. Joaquín Castellví, co-founder and CIO of Stoneweg, highlights that the alliance represents a key step to reinforce its role in the market: “We were among the first to bet on this sector and we remain convinced of its potential to offer residential solutions that combine quality, sustainability and flexibility.” “We continue to bet on the residential sector in Spain, since we see room for growth in the different segments given the clear structural housing deficit in the country. We are pleased to join forces with Stoneweg, an undisputed leader in the living sector in Spain, and we hope to continue executing this strategy together,” says Javier López Galdos, Managing Director at BGO. BGO is a leading global real estate investment management advisor and an internationally recognized provider of real estate services. The company manages the interests of more than 750 institutional clients, with approximately $89 billion in assets under management (as of September 30, 2025), and has extensive experience in managing office, industrial, residential, retail and hospitality assets around the world. For its part, Stoneweg, founded in 2015 and headquartered in Geneva, manages nearly €11 billion in assets through structures that include club deals, joint ventures and co-investments. The group operates with more than 250 employees in 23 offices in Europe, the United States and Singapore.