Hines and ACCIONA Open Their First Build To Rent Project in Madrid, Skypark Valdebebas, Delivering 395 Homes

(MADRID) – Hines, the global real estate investment, development and property manager, and ACCIONA, a global company and a leader in the provision of regenerative solutions for a decarbonized economy, have opened Skypark Valdebebas delivering 31,000 square meters of prime residential space in one of Madrid’s fastest growing residential districts in the northeast of the city.

A first for Hines in Spain, Skypark Valdebebas is a build to rent project offering 395 quality apartments providing homes for c.900 people. The scheme benefits from excellent connectivity being located near a train station with direct access to the center of Madrid, and 7,500 square meters of garden space with private leisure facilities and overlooking the Valdebebas Central Park. The apartments are either 1, 2, or 3 bedrooms, each equipped with a private terrace or balcony.

Acquired in 2020, on behalf of the Hines European Value Fund 2 (HEVF 2) following the signing of a turnkey purchase agreement with ACCIONA, Skypark Valdebebas also benefits from wide-ranging retail, amenity and restaurant offerings with the following occupiers already leasing space in the scheme: HM Hospitales, Aldi, Santa Gloria, VIPS, Madrigal, 80 Grados and Big Jump Park. It has received BREEAM Very Good certification testament to its ESG credentials, designed by MORPH , with the interior design provided by Gärna and fully financed by Banco Santander.

Vanessa Gelado, senior managing director and country head of Hines in Spain, added: “We are very proud to open Skypark Valdebebas, our first build-to-rent project in Spain, with 395 stunning apartments, significant amenity provision, and first class ESG credentials. We look forward to many people calling this quality space their home.” Gelado added: “We look forward to continuing our momentum in the living space and believe the build-to-rent sector will become a cornerstone for our business here given the need for quality homes nationwide.”

Andrés Pan de Soraluce, CEO of the real estate business of ACCIONA stated: “It is an honor for our company that Hines, the largest real estate developer in the world, has chosen ACCIONA to carry out its first build-to-rent asset in Spain; in this enclave, Valdebebas, which is an example of urban planning at an international level, and with whose District Council, we are developing strategic projects of relevance, such as the new ACCIONA Group headquarters.” And he notes "In this great build-to-rent project in Valdebebas, we share with Hines its vision and commitment to implement the highest levels of sustainability, quality, architecture and landscaping, to offer new and more ambitious proposals to the professionalized rental market, the segment with the greatest growth potential in Spain.”

Alberto Serrano Patiño, councilman-president of the Districts Hortaleza and Latina of Madrid, highlighted: “Together we are building the best neighborhood in Europe in terms of quality of life.”

About Hines

Hines is a global real estate investment, development and property manager. The firm was founded by Gerald D. Hines in 1957 and now operates in 30 countries. We manage nearly $96B¹ in high-performing assets across residential, logistics, retail, office, and mixed-use strategies. Our local teams serve 685 properties totaling nearly 216 million square feet globally. We are committed to a net zero carbon target by 2040 without buying offsets. To learn more about Hines, visit www.hines.com and follow @Hines on social media.

¹Includes both the global Hines organization and RIA AUM as of December 31, 2022.

About Hines European Value Fund (HEVF 2)

HEVF 2 is the second closed-ended, Luxembourg-based investment fund in the flagship HEVF series with the objective to secure and invest in value-add commercial real estate throughout Europe on behalf of institutional investors. HEVF 2 was initially launched in December 2019 and has been allocated so far across Europe into 13 separate investments across the residential, logistics and office sectors.

Data as of Dec 2022


With over 30 years of experience, ACCIONA's Real Estate division is one of the leading residential development and management companies in Spain, having developed a track record of more than 13,000 properties, throughout Spain, Mexico, Poland, Portugal and Brazil, as well as prominent logistics and office projects.

It’s a part of ACCIONA, a global company and a leader in the provision of regenerative solutions for a decarbonised economy. Its business offer includes renewable energy, water treatment and management, eco-efficient transportation and mobility systems, resilient infrastructures, and urban regeneration. The company has been carbon neutral since 2016. ACCIONA recorded sales of €11.2 billion in 2022 and has a business presence in more than 40 countries.