Aedas Homes has closed a financing agreement with the investment company Incus Capital for 112 million euros to strengthen its Build to Rent (BtR) strategy. With this alliance, the company, which has been advised by Alantra, opens a new alternative financing channel with which it diversifies its base of financing agents.
This financing will enable the developer to consolidate ten turnkey residential rental projects for third parties in Spain, requiring a total investment of 186,7 million euros. These 10 projects, which are part of Incus Capital's financing, are located in Madrid, Catalonia, Valencia and Andalusia.
In total, this portfolio of BtR developments will comprise more than 1.300 homes for rent. It includes, among others, the two projects sold on a turnkey basis to Inmobiliaria Vascongada, in which Lazora has a stake, and another five sold in the same format to the platform created between Grupo Lar and Primonial.
The transaction involved the international financial services firm Alantra as financial advisor, Deloitte as technical and commercial advisor and DLA Piper and Garrigues as legal advisors.
