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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