Avesta, the 360º platform for managing affordable Build to Rent (BTR) real estate projects—born from the strategic alliance between Beka and Avintia Inmobiliaria—has been selected by the Instituto de Crédito Oficial (ICO) as one of the initiatives responsible for channeling funds to develop affordable rental housing in Spain.
In total, Avesta will manage an investment of over €500 million, of which €92 million will come from public funds provided by the ICO, while the remainder will be private capital. This award falls under the InvestEU program, through which the ICO has created a pioneering investment vehicle with the goal of developing more than 4,000 affordable BTR homes. This marks a major milestone for Beka and Avintia Inmobiliaria, solidifying public sector support for Avesta, the platform resulting from the alliance of two seasoned players in real estate project development—particularly in the fields of public-private partnerships and land concessions aimed at affordable housing.
This is not the first time the ICO has channeled investment through funds managed by Beka under the InvestEU framework. It previously participated in the Beka & Bolschare Iberian Agribusiness Fund, endorsing Beka’s capacity to structure investment vehicles with strong economic and social impact. Meanwhile, the ICO has financed the development of nearly 1,500 affordable homes promoted by Avintia Inmobiliaria across Spain.
Avintia Inmobiliaria also holds a key competitive advantage: the ability to deliver projects through an industrialized construction model, enabled by the ávita system developed by Grupo Avintia. Using this pioneering system, the company has already delivered around 2,000 homes and has another 3,000 under construction. The model reduces execution times by up to 30% while raising standards in efficiency, quality, and sustainability—and also helps address the skilled labor shortage in the construction sector.
In this context, the capital injection will support an ambitious plan to develop more than 4,000 affordable rental homes. With a current pipeline of nearly 3,000 units, the alliance will be able to accelerate project development on sites distributed throughout Spain, with a particular focus on seven autonomous communities.
Roberto Campos, Managing Director of Avintia Inmobiliaria, stated: “This award represents a decisive boost to further strengthen our social commitment to affordable housing, while guaranteeing the highest standards of sustainability and quality. The creation of Avesta, alongside Beka, is key to confidently and swiftly addressing the challenges posed by this innovative ICO vehicle.”
Gustavo Martínez Zamora, Partner and Head of Real Estate at Beka, added: “Social infrastructure is essential to the balanced development of any society, and being part of this project allows us to actively contribute to addressing one of the major challenges of our time that affects thousands of people: access to affordable, high-quality housing. At Beka, we reaffirm our commitment to a sustainable real estate development model that makes a real impact on people’s lives.”
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