Friday, December 8, 2023

Pérez-Llorca, Clifford assist Tikehau with residential RE acquisition

Pérez-Llorca and Clifford Chance have advised fund manager Tikehau Capital on its acquisition of a residential building in Madrid from Urbania


Tikehau Capital has acquired residential building in Calle Frey Luis de León (Madrid). The global alternative fund manager has announced the acquisition of the asset from Urbania for an undisclosed amount.

Tikehau’s new residential building, completely refurbished by the previous owner, has 3,000 square metres distributed in 45 flats and two commercial premises on the ground floor. The building is located very close to the Méndez Álvaro office area and the tourist centre of Madrid.

The transaction between Tikehau and Urbania includes a long-term lease agreement with an international residential operator. The operator will have a strong technological focus, track record and experience in the sector and is currently present in several major European cities.

This acquisition represents Tikehau Capital’s first investment in the core residential segment in Spain. The company, already present in Iberian real estate, has completed three acquisitions in recent years: two in Spain and one in Portugal.

These are a core plus office portfolio with locations in Madrid and Barcelona, which the management company bought in 2019; an extra office building in Barcelona in 2021, which complemented this portfolio, and a value add residential portfolio with 3,600 units in Portugal in 2022.

Carmen Alonso, head of Iberia and UK at Tikehau Capital, commented: “We are pleased to announce this new investment in Spain, which represents the addition of an excellent quality asset to our existing portfolio and, more importantly, demonstrates Tikehau Capital’s commitment to developing a diversified investment portfolio across different asset classes within our Core, Core+ and Value-Add strategies in the Iberian real estate market.”

Pérez-Llorca advised Tikehau with a Real Estate team formed by partner Jesús Varela and lawyers Antonio García and Rocío Blanco.

Pablo Serrano (left), Fernando Escribano (top centre), Marta Rodríguez (top right), Johannes Meyer (bottom centre) and Josselin Badoc (bottom right)

Clifford Chance advised Tikehau on Tax structuring and Tax matters with a team made up of partner Pablo Serrano de Haro, together with lawyers Fernando Escribano and Marta Rodríguez from Spain, along with a Clifford Germany team formed by partner Jan Grabbe and lawyer Johannes Meyer, and a Luxemburg team including counsel Josselin Badoc and lawyer Simón Paran.

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