26 August 2019
Aedas, Kronos and Vía Célere joined together to acquire La Fortuna, a 900,000-m2 parcel of land to the southeast of Madrid. The property is located in the planned development of Los Berrocales and was sold by Proinsa at a public auction for nearly 46 million euros.
The three developers bid jointly in the auction, which was held last month. The asset has more than 90 hectares of land and enough buildable land to develop about 2,500 flats, making it the most significant sale of land in Madrid in recent times.
Aedas is controlled by the American firm Castlelake; the US-based Värde Partners controls Vía Célere, and Kronos is Spain’s Kronos Homes’ developer.
Original Story: Cinco Días – Alfonso Simón Ruiz
Adaptation/Translation: Richard D. K. Turner