• Transaction / Assets
    919 rental homes
  • Seller
    Tectum
  • Buyer
    AXA IM
  • € MM
    150

AXA IM Buys 919 Rental Homes in Madrid from Tectum for €150 Million

4 June 2020 – Brainsre.news

Axa’s real estate manager has starred in the largest turnkey operation involving rental homes in Spain to date.

The manager AXA IM-Real Assets, the real estate arm of the insurance company Axa, has given a clue as to where the Spanish real estate market may go in the short and medium term: it has purchased a portfolio of 919 social housing properties, located in the Community of Madrid, and intended for rent (known as build to rent) from Tectum for €150 million.

The vendor, Tectum Real Estate, is a company specialising in the development of properties for rent, together with its developer partner, Locare Real Estate, which has been advised by the boutique consultant TC Gabinete Inmobiliario. The consulting firm Colliers has advised Axa on the technical and environmental due diligences, and will be in charge of the Project Monitoring for the construction work.

Original Story: Brainsre.news

Translation/Summary: Carmel Drake

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