Andersen and EY Abogados on Torremolinos VPO Project
Andersen has advised a group of investors on the acquisition of three plots of land located in La Leala, Torremolinos (Málaga), for the development of an affordable housing project (VPO). EY Abogados has advised the European real estate investment fund on the divestment of the land.
The development is expected to comprise 290 residential units with an estimated market value of €80m. The transaction forms part of the ongoing urban development of the La Leala area, which is undergoing a transformation into a consolidated residential district with upgraded infrastructure and connectivity.
The operation comes amid growing demand for affordable housing in Spain, particularly in areas such as the Costa del Sol where residential supply remains limited.
The team
Andersen’s advisory team was led by real estate partner Eduardo González, together with senior associate Enrique Pérez from the same practice and urban planning senior associate José Miguel Jaime from the firm’s Málaga office.
The EY team was led by Rafael Medina (partner), together with Raquel Barrientos (director) and Alfonso Ortega (junior). EY Abogados’ involvement included advice on the transaction, including the negotiation of a package of guarantees.
Pictured above are Enrique Pérez, Senior Associate; José Miguel Jaime, Senior Associate in the Urban Planning practice at Andersen’s Málaga office; and Eduardo González, Partner in the Real Estate practice at Andersen, together with Enrique Pérez, Senior Associate from the same team. Pictured below, Rafael Medina, Raquel Barrientos and Alfonso Ortega, from EY.
