Patron Capital, Q21 Real Estate to invest €340m to develop new sustainable projects in Spain

Developer Q21 Real Estate and Patron Capital, the pan-European institutional investor focused on property-backed investments, have acquired 160,000 square meters (1.7 million square feet) of buildable land to develop four new high-end residential schemes in Las Rozas — an affluent suburb in the northwest of Madrid — under the brand name Levitt.

Q21 Real Estate and Patron Capital will invest more than €340 million ($378 million) to deliver the new sustainable projects.

Three plots of land with a combined buildable area of 132,000 square meters (1.4 million square feet) have been acquired in the El Quintanar neighborhood. Of this, 78,500 square meters (845,000 square feet) has been earmarked for the construction of 516 new multifamily and detached homes. The remaining 54,000 square meters (581,000 square feet) has been set aside for commercial space, delivering a range of services for local residents and visitors to the area.

An additional 30,182-square-mete