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Gestilar & DWS Pay Mapfre More Than €100 Million for Several Plots in Madrid

The companies have paid the insurer 106 million euros for various plots of land, located in Getafe and the Ensanche de Vallecas, on which they plan to construct build-to-rent homes.

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The insurance company Mapfre is going to receive 106 million euros from the sale of several plots of land in Madrid, which are going to be used for the construction of homes. Specifically, the firm completed the sale of land in Vallecas and Getafe to Gestilar in December, according to El Economista.

Meanwhile, the property developer Gestilar has signed an agreement with DWS, a management company controlled by Deutsche Bank, to build 1,000 “build-to-rent” homes for it in Madrid. In this way, Gestilar will sell the apartments that it builds to DWS for 240 million euros. The project will span 75,000 square metres.

Read the full article in Spanish.

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