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Tectum Launches a Second Fund for Affordable Rental Properties in Madrid

Together with Locare, the property developer has raised a new fund amounting to 240 million euros to purchase land and construct more than 1,000 rental homes in the region.

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The property developer Tectum and the investment platform Locare have managed to raise 240 million euros for a second fund to buy land and build more than 1,000 homes in Madrid, which will be put on the rental market at affordable prices.

According to Andrés Horcajada, CEO of Tectum, speaking to El Confidencial, this new vehicle, which is called Tectum II, has already closed the purchase of several plots of land. Specifically, one is located in Villaverde, in the Butarque neighbourhood, another in Madrid capital for the construction of 241 homes, and a third in Rivas Vaciamadrid, where 90 units will be built, all at affordable prices.

Read the full article in Spanish.

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