Azora has completed the sale of Doctor Esquerdo 136 to TwinPeaks Capital. The asset, comprising more than 5,000 sqm in Madrid, will be redeveloped into a new 55-unit residential scheme.

The transaction represents the first exit from Southern Europe Opportunities III (SEO III), Azora's fund launched in 2025 to invest in value-add strategies across key sectors, including residential, hospitality and data centres, primarily in Southern Europe.

The acquisition will enable TwinPeaks Capital to convert the existing commercial building into a residential development, helping to increase the supply of newly built homes in one of Madrid's most sought-after residential areas.

The transaction underscores Azora's ability to identify investment opportunities, execute value creation strategies and transform assets to meet the evolving needs of the markets in which it invests. In this case, the repositioning of a commercial asset into a residential development responds to the growing demand for housing in the Spanish capital.

TwinPeaks Capital, Colliers and the other teams involved played a key role in the successful completion of the transaction.

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