Mutuactivos SGIIC has signed a contract with Azzam Vivienda to provide real estate services associated with Mutuafondo Vivienda Premium, FILPE, the investment fund launched in September under the European Long-Term Investment Fund (FILPE) format.
The vehicle is aimed at purchasing homes from people over the age of 65 who transfer their property to the fund and continue to reside in them until their death. After the sale, the property becomes part of the fund's portfolio and the sellers retain the right to live there without paying rent.
Azzam will be responsible for the comprehensive management of the assets, from coordinating the necessary documentation to formalise each sale to dealing with any incidents arising after the transfer. The company will also act as the fund's representative in the homeowners' associations from the moment the properties are acquired.
The agreement also provides for Azzam to manage the refurbishment processes where appropriate and the final sale of the homes once the right of residence has expired. The minimum investment in the fund is €25,000.
Mutuactivos has structured this product within the framework of the Viventua project, aimed at elderly people interested in obtaining liquidity through the transfer of their primary residence. Both Mutuactivos and Azzam will be involved in the procedures required to complete the sale transactions.
