Culmia and the British fund Patron Capital have signed a co-investment agreement to develop 168 homes in Parc de l'Alba, an urban development area located in the municipality of Cerdanyola del Vallès, next to Sant Cugat del Vallès, in the province of Barcelona.
The developments will be developed in two phases, with 66 and 102 homes respectively. According to the developer, the project includes units with between one and four bedrooms, as well as a communal swimming pool. Prices will start at 293,000 euros.
Culmia will make the initial contribution of land and act as managing partner through delegated development, supervising the design, execution of the work and marketing.
In addition to the project already defined, the agreement foresees the possibility of incorporating two additional plots in the same area into the joint vehicle, as well as exploring future opportunities for collaboration in the Spanish residential market.
This operation is in addition to the project that Culmia is developing together with Alterna Consulting in La Solana de La Moraleja, in Madrid, where the construction of 10 single-family homes is planned.
Patron Capital, which operates in several European markets, strengthens its presence in Catalonia with this alliance.
