KPMG guides Patrizia´s €39m RE acquisition in Alcobendas

KPMG Abogados has advised German fund Patrizia AG on its acquisition of a build-to-rent residential rental building in Alcobendas, Madrid, for €39 million


Once construction is completed in 2023, the building -named La Menina- will have 112 one and two-bedroom flats spread over 4 floors above ground, 2 additional floors for parking below ground level, as well as commercial space on the ground floor and a wide range of leisure and sports facilities including swimming pools (for children and adults), gymnasium and paddle tennis court.

Twin Peaks Capital, a Spanish family office, will be responsible for the development of the building until its delivery, scheduled for 2023. This project will thus reinforce the residential rental offer in the municipality of Alcobendas, located less than 15 kilometres from Madrid Capital, which leads to the population growth of its Northern Zone.

With this acquisition, Patrizia continues to strengthen its residential portfolio in Spain, where it has assets under management totalling 53,000 square metres and valued at €200 million. In total, the firm has assets under management worth around €1.4 billion in Iberia.

With this transaction, Patrizia reinforces its commitment to the build to rent segment in Spain, where it has residential assets valued at €200 million.

KPMG Abogados advised Patrizia with a Real Estate team led by partner Carlos Bardavío (pictured left), senior manager María Llorens and associate Elvira Puerta, an Urban Planning team formed by director Pedro Soto (pictured centre) and associate Alvaro Obregón and a Tax team comprising partner Pelayo Oráa (pictured right), senior manager Felipe Martínez and associate Jon Simon.

Desire Vidal