“Club Mediterranee” (Club Med) in Vistahermosa is a 86.000 sq. meters, sea front, plot of land which is the subject of an interesting redevelopment project. HERON España advised by KPMG, sold this complex to Thomas de Carranza clients a group of national and foreign investors for an undisclosed amount. The National Asset Management Agency (NAMA), from Ireland, was part of the deal. Thomas de Carranza Abogados advised on this transaction over issues such as legal due diligence, contracts, cancellations of guarantees, tax issues, investor´s contracts, shareholders agreements, etc.
This is the second substantial real estate transaction in which the firm acts in the Spanish coast in three months.
These transactions, in view of our partner Santiago Thomas de Carranza, showed that the real estate sector in Spain is picking up and that there are excellent opportunities provided they are undertake by qualify investors in excellent locations like in these two cases.