Herbert Smith Freehills advises Eldridge on €56,100,000 real estate financing for Greystar's development in Boadilla del Monte, Madrid, Spain

Herbert Smith Freehills has advised Eldridge and its affiliates in connection with a €56,100,000 real estate financing for Greystar. The proceeds will be used by Greystar for the development and construction of a
458-unit flexible living asset located in Boadilla del Monte, Madrid, Spain.

This transaction marks a significant milestone in the flexible living market in Spain, highlighting the country's favourable long-term fundamentals. It also represents a unique opportunity for Eldridge to expand their platform alongside a credible and established partner like Greystar.

The Herbert Smith Freehills team in London was led by Finance partner Simon Chadney and of counsel Luis Clouet, with support from associate Rachael Morrison. Finance partner Sergio Cires led the team in Madrid, with associates Ricardo Echevarría and Blanca Gil providing counsel on Spanish law matters. Real Estate partner Tomas Diaz Mielenhausen, senior associate Marta Escartin, and associate Dany Al-Tinawi advised on real estate matters. The core team was also supported by of counsel Marta Esteban, who offered advice on tax-related issues.

Partner Sergio Cires commented, "We were thrilled to act for Eldridge and to be part of this exciting transaction for Greystar. This deal allowed us to showcase our talented multijurisdictional team."

Of counsel Luis Clouet added, "Despite the current global market turmoil, we are confident that the rally in the Spanish real estate market will continue throughout this year, given the strength of demand and the scarcity of supply."