Andersen advises on partnership for the development of a 452-unit affordable housing lot in Madrid

Andersen has advised the joint venture owned 50% by Avintia Inmobiliaria and Pecsa Real Estate, in the alliance, as well as in the granting of the right of superficies and the subsequent financing granted by Banco Santander, signed with Palatino Residencial, an alternative investment vehicle promoted by Bankinter Investment and managed by the developer Vía Agora, for the development of one of its affordable housing lots of the Madrid City Council, consisting of 452 homes.

This lot includes 5 developments in Madrid city for 1, 2 and 3-bedroom homes, with common and leisure areas. The transaction will allow Palatino Residencial, once the works already started by the Grupo Avintia Real Estate – Pecsa Real Estate joint venture are completed, to operate the homes for 45 years.

Javier Lacleta, Partner in the Real Estate area of Andersen, together with Claudia Martínez Niño, Associate in the same department, has been responsible for the advisory services.