The Oaktree fund’s developer will allocate 200 million euros to develop and construct 1,700 homes on twelve plots in San Sebastián de los Reyes, Tres Cantos, Alcorcón, Alcalá de Henares and Getafe.
Culmia will delegate the construction to Grupo Avintia and the management of the rental portfolio to Sogeviso.
The development of these homes will be carried out through industrialised processes. This will enable a 30% reduction in delivery times and a 60% reduction in on-site waste generation, reducing CO2 emissions.
Oaktree’s developer made the best offer for Plan Vive’s lot 3. Its discount was 1.1%, on the €12.8 million expected by the Community of Madrid to receive. Its competitor, Aedas Homes, together with Ares Management, only offered a 0.5% discount.