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BROWSE ABOUT USInternational law firm Ashurst has advised Caixabank, S.A. and Allianz in relation to the granting of a €135 million syndicated loan to Espacio Caleido, S.A. to finance the construction and operational launch of Caleido.
Caleido, which is also known as the Fifth Tower (in Spanish La Quinta Torre) in Madrid, will comprise of:
The project is being built on a 33,325.56 sqm plot of land owned by the City Council of Madrid, (Ayuntamiento de Madrid), which has granted a leasehold right to the borrower for a 75-year term.
The Ashurst team was led by Madrid finance partner Fernando Navarro, with support from counsel Irian Martínez, and assisted by senior associate Borja Vazquez, and associates María Echániz, Sam Tetlow and Raquel Singla. Tax advice was provided by partner Javier Hernández Galante, assisted by senior associate Ricardo Garcia Borregón and associate Beatriz Unceta-Barrenechea. Partner Ismael Fernandez Antón, assisted by senior associate Joaquín Macías, and associates Miguel Ferre, Rafael Fontán and Laura Sanchez advised on the real estate aspects of the transaction.
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