Elix Vintage Residencial invests €100M in residential assets

Elix Vintage Residencial invests €100M in residential assets

According to the investors, the SOCIMI Elix Vintage Residencial is expected to invest the capital for the next three years, in order to create a diversified portfolio of residential assets, mainly in Barcelona and Madrid to renew and rent them. Elix will be responsible for the industrial management of the program, considering it has a proven track in similar investments, since it was founded in 2003 by Jaime Lacasa and Jorge Benjumeda. Elix has a team of experts along the value chain.

Guillaume Cassou, Member and Head of European Real Estate at KKR and Chairman of the SOCIMI, said: “we are delighted with this new investment in Spain, where KKR has built up a strong presence and investment track record over the last years, and in a sector which we believe has a long-term upside, working closely with our partners Altamar and Elix, so important in Spain.”

Jaime Lacasa and Jorge Benjumeda, founders of Elix added that “this deal represents a milestone for Elix’ development due to the cooperation with renowned international investors, who will support the growth and institutionalization of our company.”

The advisors to the transaction have been Freshfields, RCD (Rousaud Costas Durán) and BDO Abogados.

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