Dazia Capital, in alliance with Aermont Capital and advised by Savills, has acquired an office building in the municipality of Tres Cantos, north of Madrid, to transform it into 176 flats for Flexible Living.
The property, which is expected to be completed in the summer of 2025, has a surface area of around 7,000 square metres and is located at number 22 Ronda de la Luna.
With an investment of 21 million euros, this operation will form part of the 3,000-apartment portfolio that the alliance between Dazia Capital, a company specialising in the transformation of spaces and buildings, and Aermont plans to build in Madrid over the next three years, with an investment plan of 350 million euros.
The flats will be affordable and will be aimed at a diverse audience, including young professionals and graduate students, among others.
Daniel Mazin, CEO of Dazia Capital, said that "there will be an increasing need to transform buildings located in areas where office or industrial use is in decline". "We are in a very good position to do this because we are able to transform the use of the assets to a higher value activity," he added.
The converted building will be Breeam Excellent certified thanks to its sustainable design and energy efficiency.
To carry out this transaction, the seller has been advised by the real estate consultancy CBRE.