Aberdeen Standard Investments’ €15 Million Acquisition of Residential Project in Madrid

Garrigues represented Aberdeen Standard Investments in the transaction.

Aberdeen Standard Investments executed the acquisition of a residential project in Madrid for €15 million from Gestilar.

The residential project is located in Pozuelo de Alarcón, 10 kilometres to the west of the Spanish capital, in the municipality with the highest income per capita in the country, very close to the train station which connects the municipality to the city centre. The building consists of 46 dwellings, 46 cellars and 47 parking spots. It also has common areas such as swimming pool, gym and a multipurpose hall. The dwellings can have one, two or three bedrooms. The construction license is expected to be obtained during the beginning of this year and to be concluded by December 2022.

Aberdeen Standard Investments is dedicated to helping investors around the world reach their desired investment goals and broaden their financial horizons.

Garrigues advised Aberdeen Standard Investments with a team which included Real Estate partner Héctor Muñoz (Picture), Real Estate senior associate Blanca Jiménez, Tax partner Gonzalo Rincón, Tax associate Guillermo Avilés, and Urban Planning partner Beatriz del Peso.

Involved fees earner: Guillermo Avilés Suárez – Garrigues; Beatriz del Peso Gilsanz – Garrigues; Blanca Jiménez Aparicio – Garrigues; Héctor Muñoz – Garrigues; Gonzalo Rincón de Pablo – Garrigues;

Law Firms: Garrigues;

Clients: Aberdeen Standard Investments;