PORTFOLIO: FUND V
Land purchase in Alicante for condo development
Vistahermosa involves building 186 semi-detached houses with underground parking and storage on a 13.8-acre site in a highly desirable location of Alicante, Spain’s third largest residential market by sales volume.
Fund V purchased the land, which has been zoned for housing, in an off-market transaction. ASG’s local team led the lengthy negotiation process, which involved a complex purchase structure. Project Vistahermosa highlights how ASG uses its local network to source a sizeable land bank in major Spanish cities and will use its development expertise to deliver homes into markets where there is strong demand and inadequate supply.