PwC advises Izilend on financing for buying SOCIMI

PwC Tax & Legal has advised Izilend, FS Capital’s alternative financing vehicle, on the financing granted for the acquisition of Quid Pro Quo Alquiler Seguro SOCIMI by Ktesios SOCIMI, the first SOCIMI with a social vocation and that invests in areas non-prime with affordable rents.

The team involved in this deal was led by Beltrán Gómez de Zayas (pictured), partner of PwC Tax & Legal Services, along with Emilio Aparicio, senior manager.

SOCIMIs are limited companies listed on stock exchange markets whose activity is restricted to the use of properties for lease. In addition to properties in Spain, SOCIMIs can have real estate properties anywhere in the world, and may have up to 20% of their investment portfolio in non-real estate assets, although to that percentage different tax rules apply.

Izilend is a lending vehicle for Real Estate projects in Spain and Portugal. It provides bridge financing to Real Estate Investors when looking for new projects and need flexible and customised solutions. With approximately €250mn financed in 100+ projects, Izilend’s goal is to become a leader and reference as a short-term alternative lender for Real Estate projects in Spain.

Michael Heron