WFW advises on a financing for the development and construction of a student residence

Watson Farley & Williams has advised Banco de Sabadell and Banco Pichincha España in a syndicated financing in favor of the student residence Livensa Living Riera-Blanca, owned by Temprano Capital and Brookfield, and granted to finance the development and construction of a student residence in Barcelona. This real estate complex will have an estimated surface area of 13,718 m2 and a planned capacity of 334 rooms.

Banco Sabadell is one of the banking groups in the Spanish financial system, founded in 1881 and a member of the IBEX 35 and Banco Pichincha is a private sector bank in Ecuador, and an important in Latin America, with interests in Spain.

Livensa is owned by financial giant Brookfield and Temprano Capital, both with interests in the Spanish real estate sector. This transaction adds to several previous investments, some also in Barcelona, following the alliance between Brookfield and Temprano, with already more than 20 residences in Spain.

Pablo San Gil: “Despite the context of uncertainty that we have experienced, the volume of investment in the Spanish real estate sector has grown, and this demonstrates the strength of the real estate market in our country. We are very pleased to have contributed to the success of the transaction and that our clients continue to trust the WFW team”.

The WFW Madrid real estate team advising the banks was led by partner Pablo San Gil, in close collaboration with senior associate Ignacio Cacho and associate Pablo Vacas.