Neinor, Stoneshield Partner to Build High-End Houses in Marbella

Developer Neinor Homes SA and investment firm Stoneshield Capital, one of its main shareholders, are forming a joint venture to tap into demand for luxury real estate on the Spanish coast.

Stoneshield will take a 70% in the joint venture, with the partners making a €150 million ($172 million) initial investment to build 262 residences in the city of Marbella, according to a Neinor statement Tuesday. The project — Neinor’s first in the premium segment — will also include a private members club and a number of amenities.