Culmia will invest over €300 million in major residential project in autonomous region of Madrid

Cuatrecasas advises Culmia on acquiring a large area of land in Alcobendas (Madrid)

Culmia will invest over €300 million in major residential project in autonomous region of Madrid
December 22, 2021

Cuatrecasas has advised real estate developer Culmia on acquiring a majority stake in a company that owns approximately 335,000 sqm of land in Valgrande (Alcobendas, Madrid).

The developer’s investment—which is expected to exceed €300 million throughout the project—marks the entry of Culmia in one of the major residential projects in the autonomous region of Madrid, with over 2 million sqm of land for the proposed construction of 8,600 new homes over the coming years. Culmia carried out the transaction by acquiring the shares of over 300 sellers to develop approximately 1,200 new homes in the sector.

The team advising on the transaction was made up of the Madrid office lawyers Marcos García, Esteban Flores, Ricardo Echevarría, José Mª Echeverría-Torres, Carlota Tojo, Susana Vaquero, Natalia Pifarré and Daniel del Pozo.

December 22, 2021