Emerige has announced the acquisition of a 20,000 square metre building plot in the Madrid town of Valdemoro, where it will develop 250 build-to-rent homes, a turnkey project sold by Lazora, part of the Azora Group, and whose works are expected to start in the third quarter of this year.
The project, designed by the Morph Architects Studio, in which Ecokubic collaborates as Project Manager, contemplates the construction of 250 homes, all of which will have a private outdoor space, either terrace or garden. Future residents will also be able to enjoy infrastructures and collective spaces: swimming pools, paddle courts, coworking spaces. In terms of the environment, the residential complex will have BREEAM Good certification and an A energy rating.
The development, located on Calle Felipe III, Sector Cerro del Castillo Oeste in Valdemoro, is very close to the Cercanías station, 25 minutes from the centre of Madrid.
According to Yann Bloch, Emerige’s international managing director: “This is a strategic transaction for Emerige that demonstrates our capacity to develop, on an international scale, our residential activity aimed at en bloc sales to institutional investors.”
In this transaction, Pérez-Llorca advised Emerige and Garrigues advised Lazora. Garrigues’ team advising Lazora was led by partners Jorge Juan García-Pellicer, Gonzalo Rincón de Pablo and David Arias Guedón.