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Urbas will transfer two new buildings in Bilbao to a European fund for almost 98 million euros

Urbas Financial Group (UBS) has announced the signing of a purchase and sale agreement by which it has agreed to promote turnkey, to transfer at its completion, to a European institutional fund specialized in residential, two blocks of 850 new-build rental housing in Bilbao.

According to the information sent to the National Securities Market Commission, the complex will offer one-, two- and three-bedroom homes ready for occupancy in the second half of 2026, and the deal has been closed for a price of 97.8 million euros. The 15- and 17-storey towers have 314 homes each, 407 garage spaces and 314 storage rooms, and are located on Zorrotzaurre Island, the new Manhattan of Bilbao, a fashionable and most important urban development area of the city in recent years. The future tenants will be able to enjoy the views of the estuary and will have common facilities with gardens and children's play areas, social space, gym area, private storage room, parking for cars and bicycles and a commercial area of 360 square meters. The promotion will be designed in order to obtain the A label for energy efficiency and the BREEAM certification with a rating of Very good to Superior.

The financing agreement has been carried out on behalf of the M&G European Living Property fund, the initiative of M&G Real Estate, whose focus of interest is single- and multi-family homes, residences and senior housing in some of the most promising residential markets in Europe.

This development is in addition to the more than 4,300 homes that currently make up Urbas' residential portfolio, with a 45% weighting in build-to-rent (BTR).