Miguel Angel Falcón, Managing Director of Lysander Spain, participated at the INMOFONDOS 2022 Forum on 9th March 2022. Organised by Cesine Jornadas and Metros 2 Magazine, the event took place in the Torre Foster auditorium, under the sponsorship of Pérez Llorca.

During the presentation, it was commented that real estate projects, especially those with added value, are increasingly complex. Therefore the leadership of all the agents and consultants involved in their definition and execution is necessary.

Miguel Angel communicated the following;

“At Lysander, we have taken a step forward and act as real estate project leaders. We cover all areas of the project as a whole, leading and connecting the technical, commercial and legal aspects, and to this end, we coordinate all the agents, consultants and stakeholders (administrations, end-users, end investors and others) required in the project. We apply a creative, flexible and at the same time firm approach to project management in order to successfully lead the project from the beginning of the operation to the completion of the works and the start of the operation.

Our approach provides investors with the following:
– Leadership, acting as a single point of contact and responsibility in these types of complex projects.
– Experience and talent, through a multidisciplinary team with more than 25 years of experience in the real estate industry in various sectors.
– Assurance, with significant success stories and fee structures aligned to project milestones.
– Transparency and control in an open book environment.”

Miguel Angel presented two important success stories of complex projects where the Lysander team provides significant added value to investors.

1. CYBERSECURITY CENTRE IN MÁLAGA (Paseo de la farola, 6 – Málaga)
An example of a complex value-added project, in which an investor acquires at public auction a very well located asset but in a poor physical condition and with multiple conditions. Through a series of intense negotiations over time, the investor creates a “Core” asset with a long-term lease. The Lysander team has been responsible for making this project a reality by acting over time for both the landlord, a local investor, and the end-user, acting as development manager or real estate project leader.

The services provided by the team include:

Phase I: LEASE NEGOTIATION (Acting for the end-user)

Lease negotiation was initiated in February 2019 and lasted 20 months.
– Market research
– Conducting TEDD and feasibility studies.
– Initial analysis of Workplace strategy and Concept Design
– Initial estimation of costs and timescales to establish the required CAPEX and long term rents.
– Clarifications with Malaga City Council and end-user regarding the degree of protection, use and scope of works authorised in the building.
– Negotiation of the lease agreement between the Landlord and end-user.


The design process starts on 1 November 2020 and planning permission was obtained 8 months later.
– Contracting of the design teams on the owner’s side: geotechnical and structural studies, architecture, engineering, acoustic study, medium voltage, etc.
– Daily coordination and management of the owner’s design teams for the development of the Shell & Core + Cat A project and daily coordination with the end user and its design teams for the Cat B works project.
– Coordination with the Investor’s legal services and periodically with the end-user’s legal and transaction teams.
– Processing and management of licences and permits with the various Public Administrations.
– Tendering of the works in 3 phases (Preliminary Project, Basic Project and Execution Project) selecting 10 companies with fiscal domicile in Malaga.

Phase III: PROJECT LEADERS IN CONSTRUCTION PHASE Shell & Core + Cat A (Acting for the owner-promoter)

Works start on 17 October 2021 and are expected to be completed in 12 months.
– Management of the entire construction process

In June 2020 AXA acquired a portfolio of 920 homes from TECTUM which was described as the largest BTR residential transaction to date. Services provided by the team include:

Phase I: TDD

– Completion of the TDD and EDD of the 7 developments – 919 residential units.
– Development of the List of Technical Agreements and Quality Memories to be included in the sales contract.
– Support in the technical aspects of the negotiation of the contract.


– Review of the projects to confirm their compliance with the technical specifications.
– Site visits and monitoring reports to analyse and manage the modifications introduced during the execution of the works.
– Management of the delivery process of the developments.

The other speakers focused on the evolution of the Socimis in Spain, the performance of shopping centres and their strong return to the market, the impact of ESG policies and objectives on investment funds and European funds and aid for the refurbishment of the existing residential stock in Spain.
Without a doubt, the INMOFONDOS 2022 Forum was an interesting and thought-provoking event that allowed us to test the sentiment of the real estate investment market from the investors’ side and that of the various consultants involved in the sector.

Miguel Ángel Falcón, 10 March 2022