Thomás de Carranza Abogados has closed the third quarter of the year with three real estate transactions for a value of more than 110 million euros.

The Firm has advised its clients in the acquisition process of three buildings located in the central area of Madrid, which will be used for residential and hotel purposes.

The first property is located in the Chamartín district and, after a comprehensive refurbishment, will be converted into a hotel. The second operation corresponds to the Madrid neighborhood of Prosperidad, also in Chamartín, where the transaction involved the purchase of a residential building which, after the corresponding refurbishment work, will be sold by units. Lastly, the Firm has advised on the purchase of an already refurbished building, close to Paseo de Recoletos, which will be used for seasonal rentals, one of the operating modalities that has grown the most in recent years and in which the Firm has extensive experience. The three purchase transactions were formalized in September.

Thomás de Carranza Abogados has advised its clients during the whole process of acquisition of the buildings, assuming the legal due diligence, as well as the preparation, negotiation and closing of the usual contracts in this type of operations, including the financing. The three processes have been led by Santiago Thomás de Carranza and Iñigo Sánchez del Campo.

During 2024, Thomas de Carranza Abogados has been involved in the legal process of more than six buildings and numerous residential units with a total purchase value of more than 200 million euros.

According to Santiago Thomás de Carranza, these operations “reinforce the Firm’s real estate specialization and position it as one of the most active and competitive in the sector of its size. More and more entities in the sector and investment funds are entrusting their real estate investments to the Firm, for several reasons: accumulated experience of more than 20 years; having a highly specialized multidisciplinary team of lawyers; managing more than 14,000 real estate assets from a legal point of view and a positive attitude towards the difficulties presented by this type of operations. Iñigo Sánchez del Campo, for his part, confirms that “once the purchase transaction is completed, the whole process of promotion, financing and development of real estate operations begins, where the Firm’s team will continue to provide legal advice”.

The Chamartín District is one of the areas of the capital with the highest socioeconomic level and has one of the highest average home purchase prices in the municipality of Madrid.