DWF-RCD advises ELIX Vintage Residencial Socimi on sale of its residential platform to Allianz
With this deal, Allianz becomes the owner of the assets, which will continue to be managed by ELIX. The transaction was advised by the the firm’s Corporate and Commercial Department
DWF-RCD, a dynamic and innovative global law firm, has advised ELIX Vintage Residencial REIT on the sale of its residential platform to the insurance company Allianz. The platform, in which the American fund KKR and Altamar Capital Partners are also shareholders along with other national and international investors, has been acquired by the German insurance group, which has purchased a majority stake of 99.7%, including the purchase of the REIT's debt and outstanding investments.
DWF-RCD's Corporate Department has participated in the transaction advising ELIX on the sale. The team already advised the group on creating the REIT itself as well as on its listing on BME Growth.
Created in 2017, ELIX Vintage Residencial REIT specialises in rental housing in Madrid and Barcelona, cities in which the REIT acquires residential properties to refurbish them and subsequently rent them out. The platform has a portfolio of 21 buildings in central areas of both cities, with 13 of them in Madrid and 8 in Barcelona. Following the transaction, this portfolio will become Allianz's property, although ELIX will continue to manage the assets.