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Cerberus Sells the Last Big Plot of Land in La Moraleja to Amenabar

The fund opted to make a substantial capital gain on the land, valued at 100 million euros, rather than have its subsidiary Inmoglaciar build housing.

promocion de vivienda nueva moraleja amenabar 1

The investment fund Cerberus has sold the land at Carrascosa B, the last major plot of land in La Moraleja, to the Basque developer Amenabar. According to El Confidencial, the American fund decided to sell instead of ceding the asset to its subsidiary Inmoglaciar developer.

The land occupies an area of 90,000 square metres. It is 60% owned by Cerberus through the real estate company Divarian. 30% is held by Grupo Delta and the last 10% by Ibérica de Maderas y Aglomerados. The estimated market value is 100 million euros.

In December, the Alcobendas City Council approved a plan to build 450 luxury flats on the land. Of those, 260 will correspond to Amenabar.

In July, the company headed by the Amenabar family began to market the homes through the El Jardín de La Moraleja project. These are four and five-bedroom flats, with a surface area of around 250 m2 and a price of approximately 900,000 euros. Among the different apartments are ground floor flats with 330 square metres with gardens and terraces, two upper floors and penthouses with terraces of 82 m2. In addition, the properties come with two parking spaces and a storage room.

Read the full article in Spanish

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