Hines, the global real estate investment, development, and management firm, has announced the acquisition, through its Hines European Property Partners (HEPP) fund, of a residential complex comprising 531 multifamily rental units located in the Cuatro Vientos neighborhood, part of the Latina district in the city of Madrid, south of Pozuelo de Alarcón.
The seller was a joint venture between Nuveen and Kronos, which developed the asset. The transaction has been structured as a direct asset acquisition. Stay, Kronos’ operating platform, will continue as the property manager.
With a total built area of 43,890 square meters, the project—named Stay Cuatro Vientos—strengthens the residential portfolio of Hines European Property Partners (HEPP). Newly built, it is located in the city of Madrid in an area with strong demand for rental housing and limited supply, and benefits from excellent public transport connectivity, being adjacent to metro and commuter rail stations. The complex opened in the last week of July 2025, and around 60% of the units are already pre-leased.
Vanessa Gelado, Senior Managing Director and Country Head of Hines Spain & Portugal, stated: “This project marks a key milestone in our growth strategy in the living segment in Spain. It is a high-quality asset, in a location with enormous potential, and offers services and common areas that meet the new demands of the rental housing market.”
The acquisition enables HEPP to increase its exposure to the living sector in Europe. Jorge Duarte, Senior Managing Director and Fund Manager of HEPP, added: “Stay Cuatro Vientos fits perfectly with our strategy of acquiring high-quality rental housing with growth potential on behalf of our investors.”
Colliers, Hogan Lovells, EY and Arcadis advised Hines on the transaction from commercial, legal, tax, and technical perspectives respectively.
A modern residential complex with standout amenities
The complex is made up of 531 multifamily units distributed across four seven-story buildings. The units include one-bedroom apartments (39%), two-bedroom (57%) and three-bedroom units (4%). The project includes 552 underground parking spaces.
With over 4,000 square meters of communal areas, Stay Cuatro Vientos offers a wide range of amenities: outdoor swimming pools, indoor and outdoor gyms, a spa, cinema, coworking spaces, children’s play areas, a paddle court, private “dining boutiques” for gatherings, and various open-air spaces.
From an environmental standpoint, the asset holds BREEAM Very Good and Fitwel 2-star certifications, as well as an EPC A energy rating. Additionally, it operates without on-site fossil fuels and is designed for efficient energy use.
Located next to the M-40 and A-5 motorways, the complex is 20 minutes from Madrid’s city center and less than 5 minutes from metro and commuter rail stations (Metro Line 10 and Cercanías C-5). The area is undergoing an urban regeneration process driven by the undergrounding of the A-5 between the M-30 and the M-40, which is expected to result in a 4-kilometer green corridor and the creation of a linear park with 7,000 new trees and 33 pedestrian crossings. This urban transformation is seen as key to the future value appreciation of the surrounding area.
About Hines
Hines is one of the leading global real estate investment firms. We own and manage assets worth €86.8 billion¹ across various asset classes, serving a wide range of institutional and private clients. Every day, our 5,000 employees across 30 countries draw on our 68-year history to drive progress by investing, developing, and managing some of the world’s top real estate assets.
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, 2024.
About Hines European Property Partners (HEPP)
HEPP is an open-ended core-plus real estate fund investing in Europe’s key markets and sectors. HEPP benefits from Hines’ vertically integrated platform, aiming to create alpha and deliver strong returns with moderate risk. HEPP continues to pursue acquisitions and developments of sustainable assets across various sectors including logistics, office, residential, student housing, and senior living. HEPP was launched in Q2 2022.
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