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Aberdeen Pays €90 Million For its First Build to Rent Operation in Spain

The fund manager is going to pay 90 million euros for one of the residential projects that Azora owned in the Mahou Calderón area, next to Madrid Río.

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Aberdeen Standard Investments (ASI) has entered the build to rent market in Madrid with a bang. It has purchased a turnkey residential project in the Mahou Calderón area, located on the site of the former brewery and Atlético de Madrid’s stadium, next to Madrid Río.

It is the last large batch of land available within the M-30, making it one of the most attractive residential locations in the capital. The land that forms this new residential area spans 200,000 square metres, was put on the market last year and comprises eight plots. A vehicle managed by Azora bought the two plots located on the banks of Madrid Río on the site that used to be occupied by the old soccer stadium.

Read the full article in Spanish.

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