Constructing with Employee Best Practices and Local Partners

Case Study

Special Situations targets real estate opportunities across the US, Europe and Asia created by distressed situations, localized inefficiencies and other catalysts. Our expertise allows us to maximize the value of real estate assets through development, servicing and active asset management. We seek to restore unproductive, and at times neglected or vandalized, assets into performing assets that comply with relevant regulations post-corrective action, and create lasting impact for local communities.

In our real estate developments, we are committed to fair employment, engagement and well-being. We foster relationships with local partners and seek to work with contractors and servicers that demonstrate best-in-class labor practices and strong health and safety track records.

Through our Special Situations Europe (SSE) strategy, we engaged in an urban redevelopment of a neglected industrial area located in Zaragoza, Spain’s fifth largest city. The transformation included remediation of land after industrial use, development of over 200 new residential units and improved access to local transportation. We partnered with a local contractor who was aligned with our focus on employee safety and well-being, and health and safety practices were above Spanish regulatory requirements. The contractor implemented continuous health and safety training programs and conducted regular audits and monthly reports on safety performance across sites. Additionally, we automated and standardized design processes to improve efficiency, reduce construction errors and improve compliance with construction standards.

The four residential complexes were developed in accordance with Passivhaus energy efficiency construction standards, which aim to achieve near-zero energy buildings and A+ energy efficiency ratings under European Union Energy Efficiency Directive. These developments will result in reduced carbon emissions and over 75% in energy savings for end users. We are also pursuing improvement of biodiversity in the surrounding areas.

Alon Avner
We adhere to health and safety best practices and the highest green building standards in our real estate developments, partnering with local companies that are ESG minded to drive positive impact.
Alon Avner, Managing Director & Head of Bain Capital Credit Europe