CBRE Investment Management Acquires 147-Unit Build-to-Rent Asset in Valencia from Corebridge Financial

CBRE Investment Management has completed the acquisition of a stabilized build-to-rent residential asset in Quart de Poblet, Valencia, Spain, purchasing the fully leased 147-unit property from Corebridge Financial, the firm announced July 15, 2026.

The transaction adds to CBRE Investment Management's European residential portfolio and reflects the firm's stated objective of delivering professionally managed rental housing for middle-income households. Financial terms of the deal, including the purchase price, cap rate, and any debt financing, were not disclosed.

Asset Overview and Physical Characteristics

The acquired asset comprises 147 apartments spread across two buildings, with a total residential area of approximately 16,966 square meters. The property also includes ancillary retail, parking, and storage space. Completed in 2022, the scheme features a unit mix ranging from one- to four-room apartments and carries an EPC B energy efficiency rating. The property is fully leased at the time of acquisition.

CBRE Investment Management said the asset meets modern construction standards and is expected to satisfy institutional sustainability benchmarks. The firm identified potential to further enhance the property's environmental performance through targeted measures, including photovoltaic upgrades and smart metering.

Location and Connectivity

Quart de Poblet is connected to Valencia city centre by metro, with journey times of under 20 minutes, according to CBRE Investment Management. The firm noted the asset's proximity to key employment hubs and Valencia's airport as factors supporting a broad tenant base that includes families, young professionals, and key workers.

Strategic Context and Portfolio Positioning

The Valencia acquisition follows a recently completed deal in Copenhagen and is part of CBRE Investment Management's broader effort to build a diversified European residential portfolio focused on affordable, income-producing assets.

"This acquisition reflects our continued focus on securing affordable, high-quality residential assets that offer resilient, income-driven returns for our investors," said Hilke Nijmeijer, Senior Portfolio Manager at CBRE Investment Management. "The asset benefits from a strong occupancy profile, supporting stable, inflation-linked cash flows. Combined with Valencia's strengthening fundamentals, we believe this investment is well positioned to deliver attractive risk-adjusted performance over the long term."

Antonio Roncero, Head of Transactions, Iberia at CBRE Investment Management, added: "Spain's residential sector continues to demonstrate compelling fundamentals, particularly in cities such as Valencia where population growth and urbanisation are driving sustained rental demand. At the same time, new supply remains constrained, resulting in a structural housing shortage. Assets such as this play an important role in delivering housing in locations where demand significantly exceeds supply."

About the Parties

CBRE Investment Management is an independently operated affiliate of CBRE Group, Inc. and reported approximately $155.2 billion in assets under management as of March 31, 2026, operating across 20 countries. The seller, Corebridge Financial, divested the Valencia asset as part of the transaction; no additional details regarding Corebridge Financial's rationale for the sale were provided.

Sources: CBRE Investment Management Press Release, July 15, 2026