Spain $1.3 Billion Residential Developer Neinor Homes Makes Offer to Buy Spain Residential Developer AEDAS Homes for $1.2 Billion after Signing Irrevocable Agreement to Buy 79% Stake from Castlelake at €24.485 Per Share (Adjusted to €21.335 Post-Dividend 2025 July), AEDAS Homes Founded in 2016
17th June | Hong Kong
Spain residential developer Neinor Homes ($1.3 billion market value) has made an offer to buy Spain residential developer AEDAS Homes for $1.2 billion after signing an irrevocable agreement to buy 79% stake from Castlelake at €24.485 per share (Adjusted to €21.335 post-dividend 2025 July). AEDAS Homes was founded in 2016. Neinor Homes – Neinor Homes is the leading residential property developer in Spain, with a land bank to develop c.12,000 homes, and a GAV to December 2024 of €1.5bn. This land bank is located in some of the fastest growing regions with the best economic fundamentals in Spain: Madrid, Western and Eastern Andalusia, Levante, Basque Country and Catalonia. Neinor is a fully integrated and well-established residential platform of scale in Spain, covering the entire development value chain from land buying, planning and urban management, product design, delegated development and construction, sales and marketing and rentals. We are committed to creating and delivering attractive risk adjusted returns for shareholders through our disciplined capital allocation strategy and our excellence in operations and risk management. We are the only listed residential property developer with a multi-sector strategy to market in Spain, and our strategies include Build-to-rent (BTR); Build-to-sell (BTS); and the largely untapped senior living rental market in Spain, which we are progressing. Neinor’s operational excellence, investment strategy and results achieved since 2019 have enabled us to deliver on our 5-year business plan, launched in March 2023, in a sustainable and capital-efficient manner. This plan combines a €600mn shareholder remuneration plan and an investment of €1bn in new opportunistic land acquisitions, half of which are expected to be undertaken in joint ventures with strategic partners through co-investment agreements, with a +20% IRR target. We offer shareholders attractive risk adjusted returns in a country where there are strong and sustainable supply and demand fundamentals and supported by a resilient macroeconomic environment and outlook. Spain remains one the most attractive and safest residential markets worldwide, with one of the lowest ratios of new supply per capita globally since 2013. AEDAS Homes (Translated) – AEDAS Homes is a leading national residential developer dedicated exclusively to new construction. Since our IPO in 2017, we have grown significantly, launching more than 300 projects and delivering more than 18,000 homes in Spain’s most dynamic markets. We have a solid land bank that will allow us to develop more than 15,300 homes in the coming years. Our commitment to innovation, sustainability, and professionalism in the real estate sector is an integral part of our identity. AEDAS Homes is a leader in the implementation of Modern Construction Methods (MCM), which allow us to optimize the quality of our homes and reduce delivery times, effectively responding to the needs of the current market. We operate in 13 autonomous communities, 23 provinces, and more than 60 municipalities, focusing on areas with strong and sustainable demand. Our focus on sustainability encompasses balanced growth from an environmental, social, and governance (ESG) perspective, aligning us with the Sustainable Development Goals (SDGs) of the 2030 Agenda. Furthermore, at AEDAS Homes, we foster a diverse and inclusive work environment, guided by the principles of equal opportunity, fair treatment, and non-discrimination. We firmly believe that talent development and diversity within the team are key to achieving our corporate objectives. From day one, our goal has been to create spaces where people can live better, combining innovative architectural design with solutions that improve the comfort and well-being of our clients.
“ Spain $1.3 Billion Residential Developer Neinor Homes Makes Offer to Buy Spain Residential Developer AEDAS Homes for $1.2 Billion after Signing Irrevocable Agreement to Buy 79% Stake from Castlelake at €24.485 Per Share (Adjusted to €21.335 Post-Dividend 2025 July), AEDAS Homes Founded in 2016“
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Spain $1.3 Billion Residential Developer Neinor Homes Makes Offer to Buy Spain Residential Developer AEDAS Homes for $1.2 Billion after Signing Irrevocable Agreement to Buy 79% Stake from Castlelake at €24.485 Per Share (Adjusted to €21.335 Post-Dividend 2025 July), AEDAS Homes Founded in 2016
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