Social Housing Portfolio Concession – Madrid City Council Lot

Advisory to Avintia and Pecsa on the sale of 5 turnkey buildings comprising a total of 451 homes to Bankinter and its vehicle Palatino Residencial, managed by Vía Ágora. This is Lot 4 of the lots tendered by the Madrid City Council, an initiative to increase the supply of affordable rental housing.

This is a 45-year concession, under which the assets must be operated under a rental scheme with capped rents, set at around 40% below market levels.