Andersen advises in the €43m financing of 386 affordable rental housing units

Andersen has advised UTE Madrid Vivienda Asequible, formed by Pecsa Real Estate and Avintia Desarrollos Inmobiliarios, in the financing, through the signing of a loan for an amount of 43 million euros, with the Official Credit Institute (ICO), for the construction of 386 affordable rental housing units in the city of Madrid.

This is the first new affordable housing project to be financed by the ICO in the city of Madrid. The plots are located in the neighborhoods of Valdebebas, where 92 homes will be built, Opañel, with 58, Peñagrande, with two plots for 36 and 63 homes, Aluche, where 47 homes will be built, and Butarque, with 90. Work on the six plots began on May 7, 2024, and is scheduled for completion in January 2026.

Javier Lacleta, partner in Andersen’s Real Estate practice, and Claudia Martínez Niño, associate in the same department, were responsible for the advisory services provided by Andersen.