MEAG, the asset management arm of German reinsurer Munich Re, has teamed up Culmia, a Spanish developer owned by Oaktree Capital Management, to create a €400 million affordable housing platform.
The joint venture will operate what is set to become Spain’s largest operational affordable housing platform.
It is launching with an initial 1,782 homes and intends to deliver approximately 750 additional units to reach a target scale of 2,500 homes.
Source: realassets.ipe.com on the 24th of February