Alantra advises AEDAS Homes on a €112m financing from Incus Capital

Jul 2021

Debt financing

Value €112 million

Madrid – Alantra, the global investment banking and asset management specialist, is pleased to announce that it has advised AEDAS Homes (“AEDAS”), a Spanish real estate developer, on a €112 million financing agreement with the European investment manager, Incus Capital. The financing will consolidate AEDAS’ Build-to-Rent (BtR) strategy.

Incus Capital is a European investment manager based in Madrid with offices in Lisbon, Milan, Paris, and Luxembourg. Since its creation in 2012, Incus Capital has invested around €1.5 billion in more than 80 transactions in different sectors.

The real estate developer, AEDAS Homes, debuted on the Madrid Stock Exchange trading floor in October 2017 with a market capitalization of more than €1.5 billion. AEDAS has already putted more than 10,000 homes on the market throughout Spain and has a portfolio of residential land to develop c.15,500 homes in the key areas of the country and its surroundings.

The financing will allow AEDAS to consolidate its BtR strategy in Spain through the development of ten projects located in Madrid, Catalonia, Valencia, and Andalusia. The portfolio of projects, once completed, will include more than 1,300 homes for rent, among others, the two turnkey projects sold to Inmobiliaria Vascongada, in which Lazora has a stake, and the five projects sold in the same format to the platform created between Grupo Lar-Primonial.

This transaction consolidates Alantra’s position as a leader in debt advisory in Iberia and sums up to its experience in the real estate sector.

Javier García-Palencia, Managing Partner and Head of Debt Capital Markets & Debt Advisory at Alantra comments: “We are pleased to have supported Incus Capital and AEDAS Homes in reaching an agreement which opens a new alternative financing path for AEDAS Homes, and diversifies its base of financiers.”