Neinor Homes Takes 10% Stake in Promociones Habitat as Part of €700mn JV with Bain Capital

September 22, 2024

Neinor Homes has agreed to acquire a 10% stake in Promociones Habitat, S.A. (Habitat) from Merak IMS, S.L. (a Bain Capital-controlled holding) and will provide development and management services to Habitat's assets as part of a new €700 million joint venture with Bain Capital. Habitat's land bank can support c.8,000 housing units (c.4,000 launched), and the partnership is intended to accelerate Neinor's JV pipeline and scale Habitat's residential development platform across Spain.

Buyers
Neinor Homes
Targets
Promociones Habitat, S.A. (Habitat Inmobiliaria)
Sellers
Merak IMS, S.L. (holding company controlled by Bain Capital-managed funds)
Industry
Real Estate
Location
Madrid, Spain
Transaction Type
Growth capital

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