CBRE Investment Management (United States, Dallas) has acquired Corebridge Financial's residential asset in Quart de Poblet, Valencia, Spain, to deliver high-quality rental housing for middle-income households. The deal closed on July 15, 2026.
| Acquirer | CBRE Investment Management (United States) |
|---|---|
| Target | Corebridge Financial |
| Deal type | acquisition |
| Stake acquired | 100.0% |
| Close date | 2026-07-15 |
| Buy-side financial advisors | BNP Paribas, CMC Capital, Moelis, PWC |
| Sell-side financial advisor | Savills |
| Legal buy-side advisors | Lawal Legal & Tax Advisory, Garrigues |
| Legal sell-side advisors | Hogan Lovells |
Deal Mechanics
The asset consists of 147 apartments spread across two buildings with a total residential area of approximately 16,966 square meters. Completed in 2022, the property includes ancillary retail space and parking facilities. The building holds an EPC B rating, indicating its energy efficiency.
Strategic Rationale
The acquisition bolsters CBRE Investment Management's European residential portfolio, focusing on delivering affordable housing for middle-income households. With a strong occupancy profile and robust demand for modern rental properties in Valencia, the asset is expected to generate stable returns aligned with the fund's investment objectives.
Financial Context
Valencia is one of Spain’s most dynamic residential markets, driven by sustained population growth, urbanization trends, and high rental demand. CBRE Investment Management aims to capitalize on this environment through strategic investments that address the city’s housing shortage and institutional investor interest.
Advisors
The deal was advised on the buy-side by BNP Paribas, CMC Capital, Moelis, and PWC. Savills represented the seller, Corebridge Financial. Lawal Legal & Tax Advisory and Garrigues provided legal counsel to CBRE Investment Management, while Hogan Lovells served as legal advisor for the seller.
Outlook
Hilke Nijmeijer, Senior Portfolio Manager at CBRE Investment Management, said, “This acquisition reflects our continued focus on securing affordable, high-quality residential assets that offer resilient, income-driven returns for our investors. The asset benefits from a strong occupancy profile and Valencia’s strengthening fundamentals.” Antonio Roncero, Head of Transactions, Iberia at CBRE Investment Management, added, “Spain's residential sector continues to demonstrate compelling fundamentals, particularly in cities such as Valencia where population growth and urbanisation are driving sustained rental demand.”