Spanish family office Twin Peaks Capital has teamed up with alternative investment management platform Azora to develop a 5,000 square meter commercial building in eastern Madrid into a 55-unit residential scheme.
Doctor Esquerdo 136 is located on one of the Spanish capital’s main thoroughfares. The project will see the conversion of a commercial property “into much-needed housing, helping to address the growing demand for residential accommodation in Madrid”, the firms said in a joint statement.
Designed by architectural practice Cano y Escario and marketed by Colliers, the development will comprise 55 newly built homes, offering one-to-four-bedroom layouts, together with a comprehensive range of amenities, including a gym, cinema, coworking space and a rooftop swimming pool.
For Azora, the transaction represents the first divestment by its Southern Europe Opportunities III (SEO III) fund, a value-add vehicle launched in 2025 that focuses on value-add strategies across key sectors, including residential, hospitality and data centres, primarily in southern Europe.
Source: realassets.ipe.com on the 15th of July