Andersen advises Culmia on Sanxenxo land purchase
Andersen has advised Culmia, a platform specialising in the integral management of real estate projects, on its acquisition from Aliseda, one of the real estate asset and loan managers in the Spanish market, of a plot of land in Sanxenxo (Pontevedra). Culmia plans to develop a residential project of 118 homes on the plot, which spans 19,672 square metres with 12,874 square metres of buildable surface, with an estimated investment of 65 million euros.
Andersen’s advice covered the legal and urban planning due diligence of the plot, the legal structuring of the transaction, and the negotiation and execution of the purchase agreement together with the closing and ancillary documentation. The mandate required coordinating the urban planning and land registry analysis of the asset with the contractual structure of the transaction, anticipating potential contingencies and providing legal certainty for an operation linked to the development of a large-scale residential project.
The residential new-build market continues to be driven by sustained demand and limited availability of quality housing in attractive locations, with transactions of this kind reflecting ongoing interest in well-located residential development opportunities in areas where demand remains clear and supply limited. Due diligence processes in projects of this nature allow potential contingencies to be identified while also anticipating urban planning and regulatory aspects that can affect execution, giving clients a solid basis for decision-making.
The team
The Andersen team was led by Ignacio Sáenz de Santamaría, Partner in the Real Estate department, together with Enrique Pérez, Senior Associate, and Alejandro Mármol, Lawyer, from the same department. The Urban Planning department was represented by Carlos Morales, Partner, Pablo López, Senior Associate, and Isabel Gómez, Senior Lawyer.
