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Culmia Plans to Acquire €450 Million in Land to Build 7,200 Homes

The Oaktree fund’s developer, Culmia, is already analysing transactions worth €200 million and expects to finalise most of them in the next three months.

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Culmia, the real estate developer formerly named Solvia Desarrollos Inmobiliarios (SDIN), will invest €450 million in buying land over the next four years. The move will add more than 7,200 new homes to its current portfolio, both rental and for sale.

Such an investment will mean putting about 1,700 new homes on the market every year until 2025, not counting the company’s work in the field of affordable housing.

The firm headed by Francisco Pérez is aiming to become the most profitable residential development platform in Spain. Its plans entail delivering more than 15,000 homes for sale or rent by 2030, along with another 10,000 affordable units.

Read the full article in Spanish

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