The international consultancy firm Savills will integrate into its property management division the business of Medasil, an area of B Capital Partners specialising in Property Management, reaching 5,000 units in the BTR, Flex Living and Coliving formats.
Savills Spain and B Capital Partners have reached an agreement that will enable them to become the leading Property Management company in Spain. Under the agreement, Savills will integrate the business of Medasil, a division of B Capital Partners specialising in Property Management, into its property management division. Medasil is one of the first residential rental management companies created in the Spanish market and has one of the largest portfolios of assets under management in Spain.
With this move, Savills España, together with B Capital Partners, is positioning itself as the consultancy firm with the largest number of assets under management in institutional rental residential to reach 5,000 units in the BTR, Flex Living and Coliving formats. The objective is to accelerate the increase in market share, strengthening the presence in specific markets after growing steadily since 2021 at a rate of 34% per annum in living assets under management throughout Spain.
The assets are mainly concentrated in Madrid and Barcelona, with presence also in Palma de Mallorca, Valladolid and soon in Malaga, Valencia and Seville, the markets with the highest growth potential. As for the team, the integration involves forming a specific area dedicated to this line of business with more than 50 professionals with consolidated experience in the management of BTR and other types of living.
Jaime Pascual-Sanchiz, CEO of Savills Spain, explained that “this operation allows us to bring forward by two years the objective we had set ourselves in living management in view of the clear momentum that new ways of living are taking and the need for professionalised management of new housing models. We want to be prepared for the medium and long term through a unique integrated approach for our clients in the living sector”.
Valentín Bascuñana Mas, CEO of B Capital Partners, points out that “the agreement reached represents a unique opportunity to continue growing hand in hand with one of the leading international players in the sector”.
Savills experts point out that the rental supply promoted by institutional investors amounts to less than 6% of the total stock in Spain and estimate the incorporation of 35,565 new units with professionalised management to the rental market in Spain between 2024 and 2025 in the BTR, flex living and coliving formats, with a growing participation of institutional rental in the market due to the structural need for rental housing in the main cities.
This transaction by Savills Spain is part of the international consultancy firm’s strategy to strengthen and increase its Property and Facility Management services in Europe and follows the integration of various property management companies in the UK, Germany and Poland.
