LAZORA has purchased assets to the value of €146 million from FADESA, in an operation which forms a part of a framework agreement between the two companies signed last year. The operation is based on LAZORA purchasing a total of 1,375 FADESA homes in a number of Spanish cities, specifically in the regions of Castilla y León, Murcia, Madrid and Galicia.
This is the largest project of its type, dedicated exclusively to Protected Public Housing, and one which will considerably increase the number of protected rented accommodation available. Through this operation, LAZORA is seeking to consolidate its leadership at the forefront of protected rented accommodation as well as broaden its presence across Spain.
This is the third such operation in which the two companies have jointly participated since the signing of the framework agreement. The first was LAZORA's acquisition of 76 FADESA homes in Tenerife and Las Palmas, whilst the second involved 184 dwellings in Colmenar Viejo, in the province of Madrid.