King & Wood Mallesons has advised the German fund Aquila Capital on the acquisition of a residential real estate development project in Sant Cugat del Vallés, a northern suburb of Barcelona in Spain.

Established in 2001, Aquila Capital is one of the leading alternative investment firms in Europe. It is part of the owner-managed Aquila Group, which has offices in Europe and Asia-Pacific and manages assets of over €8 billion for a global investor base.

Enrique Isla, partner and head of Real Estate in Spain, said: “The success of this transaction is another example of the growing interest of international investors in the Spanish residential real estate sector, particularly in Madrid and Barcelona. We are frequently seeing this kind of investment adopt a joint venture approach with national real estate companies in the region.”

The cross-practice team in Spain was led by Marta Orce, Real Estate senior associate, with associates Víctor Vilaboa (Real Esate), Carlos Trueba (Real Estate) and Victoria Ruenes (Corporate).

King & Wood Mallesons has advised Aquila Capital on several deals over the last few years, including its joint venture with the Spanish company Inmoglaciar for the construction of 1,200 dwellings in Madrid, Spain.