Watson Farley & Williams (“WFW“) has advised Banco de Sabadell, S.A. (“Banco Sabadell“) and Banco Pichincha España, S.A. (“Banco Pichincha”) on a financing granted to Temprano Capital and Brookfield for the construction and development of the Living Riera-Blanca student residence in Barcelona.
Owned by Temprano Capital and Brookfield’s Spanish subsidiary Livensa, the residence will contain 334 rooms over 13,718 m². Since the founding of Livensa, Brookfield has invested in over 20 buildings in Spain, including several others in Barcelona.
Founded in 1881 and member of the IBEX 35, Banco Sabadell is one of Spain’s leading banks with a global presence. Banco Pichincha is Ecuador’s largest private bank with interests in Spain and is one of Latin America’s most important banks.
The WFW Madrid Real Estate team that advised the banks was led by Partner Pablo San Gil, assisted by Senior Associate Ignacio Cacho and Associate Pablo Vacas.
Pablo commented: “Despite the current market volatility in Spain, the volume of investment in real estate continues to grow – a testament to the fundamental strength of the sector. We are pleased to have played a role in helping our clients successfully close this deal and are grateful for their continued trust in us”.
