• The partnership involves the development of single-family homes in La Solana, in the La Moraleja neighborhood of Madrid.
• The agreement also provides for continued exploration of new investment opportunities in residential development projects that may be of interest to both companies in the future.
• The project consists of a residential complex with 10 premium homes, priced starting at 3 million euros each, on a 10,000-square-meter lot.

December 9, 2024 — Culmia, the real estate platform that integrates housing solutions in the market, has signed a co-investment partnership with Alterna Consulting to develop a project consisting of premium single-family homes located in the La Solana de La Moraleja urban development in Madrid. Both companies have formed a joint venture, in which Alterna and Culmia hold stakes, whereby Culmia will make the initial land contribution and then serve as the managing partner, overseeing the design, construction, and subsequent marketing of the project.

The agreement also provides for the joint analysis of other investment and development opportunities in the Spanish residential market that may arise in the future.

This recent transaction marks the beginning of a new phase for Culmia in terms of joint investment agreements with new, highly reputable partners capable of making recurring investments.

For Alterna Consulting, meanwhile, this represents a clear commitment to investing in the residential market in Spain. Alterna Consulting is part of Alterna Asesoría Internacional, a company listed on the Mexican Stock Exchange that originated from Corporación Actinver, a leading Mexican firm in private banking and asset management. Alterna Asesoría Internacional has also had a presence in the United States for more than 20 years, with offices in Houston and San Antonio.

The new development will consist of a residential complex with 10 detached single-family homes on separate lots, priced starting at 3 million euros each. The homes, with a floor area of 500 square meters, will feature up to five bedrooms and a swimming pool, as well as gardens of approximately 550 square meters.

Construction work is scheduled to begin once the project is coordinated with the infrastructure development work, which is expected to start in the first quarter of 2026.

The architecture firm Morph will be responsible for designing the project, while Colliers will lead the marketing efforts.