Vandor Real Estate Socimi, S.A.U. reached an agreement with Banco Santander, S.A. securing a loan to partially finance its latest addition to its portfolio: a residential building located at Avenida Madrid 110, Barcelona.
The building is located in Barrio de Les Corts, Sarrià. It was built in 1962 and has a surface area of 1,537 sqm., holding 18 dwellings and a commercial premises, with two dwellings per floor.
Vandor is a Spanish residential property investment vehicle indirectly owned by a private equity firm. The investment vehicle is focused on the acquisition of residential assets across the main cities in Spain. The private equity firm represents approximately €4.2 billion of capital across several funds and related co-investments, investing in property, corporate operating entities whose value is primarily supported by property assets and distressed debt and credit related businesses.
Garrigues advised Vandor on the financing arrangement with a Barcelona office team comprising partner Juan José Berdullas Pomares and Banking & Finance partner Daniel González Pila, along with senior associate Alexandra Beltran Fabregat.