ICO invests more than 260 million euros in social and affordable rental housing projects: Advisors

Ramón y Cajal Abogados, together with Afi in the financial part, has advised the Instituto de Crédito Oficial in the design of the call “ICO Fondos Sociales Invest EU”, a financial instrument through which the ICO will invest up to 268 million euros in projects related to the promotion and development of social and affordable rental housing in Spain, through entities and investment vehicles specialized in promoting this type of projects.

With ICO funds and the support of InvestEU, together with resources raised from private investors, the selected management companies and specialized vehicles will be able to invest 550 million euros in projects for the promotion and responsible management of social and affordable rental housing in Spain.

With this initiative, it is estimated that 10,000 new social and affordable rental housing units could be built.

Cristina Vidal, partner of the Regulatory Finance practice, led the team that advised on the transaction, formed by David Díaz Villar and Alejandra Solórzano Parra.