Freshfields, DLA Piper, DWF-RCD advise on the €140m sale of Elix to Allianz

Freshfields Bruckhaus Deringer has counselled KKR & Co. Inc. and Altamar Capital Partners on the €140 million sale of Elix Vintage Residencial Socimi, advised by DWF-RCD, to Allianz, which was advised by DLA Piper

Elix Vintage Residential Socimi was launched in 2017 to invest in the Madrid and Barcelona residential real estate markets through an aggregation strategy. The current portfolio comprises 21 residential assets including 421 units, with 13 properties in Madrid and 8 properties in Barcelona. The majority of assets are residential to rent, with several assets operated by co-living or short-term corporate operators.

Since acquiring the assets, the investor consortium formed by KKR and Altamar Capital Partners, among other investors, has completed the refurbishment of over half of the units, with the remaining units undergoing renovations.

Freshfields Bruckhaus Deringer´s team was led by Global Transactions Real Estate partner Fernando Soto (pictured centre), supported by associate Alfonso Vallés. Corporate and M&A partner Alfonso de Marcos (pictured top left) advised on the Capital Markets aspects of the transaction, and Tax partner Bosco Montejo Alonso (pictured bottom left), supported by associate Javier Sánchez Ballesteros, advised on the Tax aspects of the transaction.

On the other hand, DLA Piper advised Allianz on this transaction, with a team led by Corporate/M&A partner Joaquín Echánove (pictured top right) and Real Estate partner Orson Alcocer (pictured bottom right). Jesús Palencia, Corporate of counsel and Capital Markets specialist, Corporate/M&A senior associate Paco Bachiller, Real Estate senior associate Ángel Maestro and Corporate/M&A associate Carlos Fuerte also participated.

DWF-RCD’s Corporate and Real Estate areas have participated in the transaction by advising ELIX on the sale, with Adolf Rousaud as partner in charge of these areas.