PwC and Osborne Clarke advise Twin Peaks Capital
PwC has advised Twin Peaks Capital on the acquisition from Azora of an office building located at Doctor Esquerdo, 136, in Madrid, which is set to be transformed into a residential development comprising 55 homes.
The transaction, which involved legal, tax and finance advisory services, marks one of the most notable office-to-residential conversion projects currently underway in the Spanish capital. Located in Madrid’s Retiro district, the asset is expected to undergo a comprehensive redevelopment as part of the growing trend of urban regeneration and repurposing of office properties.
Osborne Clarke also advised Twin Peaks Capital on the transaction. The firm provided support through its Real Estate, Corporate and Tax practices, assisting the investor in the acquisition and development strategy for the asset.
The deal highlights continued investor interest in value-add real estate opportunities in Madrid, particularly in projects aimed at addressing residential demand through the conversion of existing commercial buildings.
The teams
The PwC España legal and tax team was led by Emilio Gómez Delgado, partner in Corporate M&A Real Estate, with support from Pablo Villar Igartua, partner in Tax Real Estate, and Gerardo García-Boente, partner in Urban Planning.
The wider PwC team included senior manager Beatriz Socías Flores, senior associate Guillermo Medina López de Haro, associates María Lázaro Velázquez and Beatriz Álvarez Corujo, as well as tax manager Fran Piñeiro. PwC’s Finance team also advised on financial due diligence and financing aspects of the transaction.
The Osborne Clarke team advising Twin Peaks Capital included Enric Girona Frisach, Ariadna Boix, Marta Lao Marzo, María Domínguez and Silvia Miralles Estrada from the firm’s Real Estate, Corporate and Tax practices.
