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Eduardo Costantini closes one of the largest transactions in the history of the real estate market - La Nacion Propiedades
Source:
www.lanacion.com.ar
May 26, 2025
The creator of Nordelta will buy 51% of the developer that owns the Quartier brand to invest in the cost-based trust model.
By Carla Quiroga
Costantini surprised the market by buying 51% of one of its competitors
Eduardo Costantini closed a strategic transaction with the developer Argencons , creator of the Quartier brand, founded by Miguel Camps.
The information came to light after the letter of intent filed this Friday, which constituted the transaction as a "significant event" on the Stock Exchange.
The transaction, one of the largest in the history of the real estate market, involves the acquisition of 51% of Argencons and reaches a total value of US$25 million for 100% of the share capital . It marks the beginning of a strategic partnership. "This transaction reflects a long-term vision and a commitment to expanding and diversifying our reach in the residential market," said Eduardo Costantini, president of Consultatio, who described Argencons as a partner with a solid, complementary culture and proven execution capacity.
Along the same lines, Miguel Camps, a partner at Argencons, recognized the transaction as "a key support for consolidating and scaling our business model , without sacrificing management independence or the close bond we've built with our investors over the years."
The signing is expected to take place next week . This means that once the documents are signed, Consultatio will own 51% of Argencons , the firm that has delivered nearly 200,000 m² in the last two years and currently has 150,000 m² under construction. It operates under a cost-based trust system, in which projects begin construction once they are fully subscribed, and investors pay for their units at cost in installments.
A model that the creator of Nordelta has not yet explored, but which he now plans to strengthen with this alliance. In parallel, he will continue developing ventures under his traditional model: land purchase, construction, and sale.
Puertos, the project in which Costantini spent more than US$10 million at a Malba Gentleness
The transaction aims to strengthen its presence in the Autonomous City of Buenos Aires and expand operations to other cities in the interior of the country and abroad, while maintaining Argencons' identity and operational autonomy.
Under this new structure, the firm will continue to operate with its current brand and team, while adding the strategic and financial support of Consultatio to accelerate its growth and capture new development opportunities.
The transaction will include shared control mechanisms that preserve key decision-making through special majorities . Clauses will also be established to guarantee the continued existence of Argencons' management team, ensuring its operational continuity.
Miguel Camps next to Gonzalo de la Serna seven years ago at the LA NACION real estate summit: no one imagined this outcome.THE NATION
The company gained prominence in the real estate market when it created the Quartier towers in the 1990s, recognized for their potential to revitalize neglected neighborhoods in the city.
In fact, Miguel Camps bought the land where the first towers were built in Palermo Nuevo in the 1980s when the area was a rat's nest .
Today, it's one of the city's most expensive submarkets: prices per square meter in the area's first-class towers don't fall below US$8,000/m2.
Quartier District, the project developed by Argencons in Paseo del Bajo
Another of the developer's emblematic projects is Distrito Quartier , located on Paseo del Bajo and meters from Puerto Madero.
It is a mixed-use development comprising three buildings and a commercial promenade: the Plaza building, with its corporate offices; the Lofts building, repurposed based on the architecture of the former Railway Hospital, with residential units suitable for professional use; and the Studios building, made up of flexible units that can be used for residential, temporary rental, or commercial office use.
The project has already become a gastronomic hub in the city with brands such as BASA, Havanna, Ancora (part of the Aldo's group), Sport Club, and the specialty coffee Botanicafé, among others.
With a total area of 120,000 m², the development is directly connected to the Illia Highway, the Costanera Norte highway, Retiro Station, and Plaza San Martín . "The location combines transportation connectivity with security; few places are as accessible by both private and public transportation," says Carlos Spina, partner and director of Argencons.
Located at 615 Soldado de la Independencia Street, between Ortega y Gasset and San Benito de Palermo, steps from the Campo Argentino de Polo and two blocks from Avenida del Libertador , the acquisition surprised the real estate market, especially because it paid 40% more than the base price at the ABEE auction. "We think it's a lot with an excellent location and a lot of potential. We're interested in developing a quality residential project ," Gonzalo de la Serna, CEO of Consultatio, told LA NACION .
The land located in Soldado de la Independencia that was acquired by the creator of Nordeltaargentina.gob.ar
In addition, at the beginning of the year, it spent US$13 million to purchase 141 hectares in Carrasco , Montevideo, where it plans to create an open residential neighborhood.
Days later, he acquired the land that had once belonged to Lázaro Báez. He paid US$10,800,000 for 145 hectares, located at kilometer 170 of Route 10, five kilometers from Punta Piedra, before reaching the José Ignacio area in Punta del Este.
"The change and relaxation of regulations on horse immigration will make Uruguay a natural center for polo, a world reference, as it was in Palm Beach," the businessman explained to LA NACION. He has no doubt that Punta del Este will be a key international destination due to the number of foreigners who visit the city every year, and for whom the polo program is part of their central agenda.
The field where he plans to develop a polo-related project near José Ignacio
www.buysellba.com
Source:
Eduardo Costantini cierra una de las operaciones más grandes en la historia del mercado inmobiliario
El creador de Nordelta comprará el 51% de la desarrolladora dueña de la marca Quartier para apostar al modelo de fideicomiso al costo
www.lanacion.com.ar
May 26, 2025
The creator of Nordelta will buy 51% of the developer that owns the Quartier brand to invest in the cost-based trust model.
By Carla Quiroga
Costantini surprised the market by buying 51% of one of its competitors
Eduardo Costantini closed a strategic transaction with the developer Argencons , creator of the Quartier brand, founded by Miguel Camps.
The information came to light after the letter of intent filed this Friday, which constituted the transaction as a "significant event" on the Stock Exchange.
The transaction, one of the largest in the history of the real estate market, involves the acquisition of 51% of Argencons and reaches a total value of US$25 million for 100% of the share capital . It marks the beginning of a strategic partnership. "This transaction reflects a long-term vision and a commitment to expanding and diversifying our reach in the residential market," said Eduardo Costantini, president of Consultatio, who described Argencons as a partner with a solid, complementary culture and proven execution capacity.
Along the same lines, Miguel Camps, a partner at Argencons, recognized the transaction as "a key support for consolidating and scaling our business model , without sacrificing management independence or the close bond we've built with our investors over the years."
The signing is expected to take place next week . This means that once the documents are signed, Consultatio will own 51% of Argencons , the firm that has delivered nearly 200,000 m² in the last two years and currently has 150,000 m² under construction. It operates under a cost-based trust system, in which projects begin construction once they are fully subscribed, and investors pay for their units at cost in installments.
A model that the creator of Nordelta has not yet explored, but which he now plans to strengthen with this alliance. In parallel, he will continue developing ventures under his traditional model: land purchase, construction, and sale.
Puertos, the project in which Costantini spent more than US$10 million at a Malba Gentleness
The transaction aims to strengthen its presence in the Autonomous City of Buenos Aires and expand operations to other cities in the interior of the country and abroad, while maintaining Argencons' identity and operational autonomy.
Under this new structure, the firm will continue to operate with its current brand and team, while adding the strategic and financial support of Consultatio to accelerate its growth and capture new development opportunities.
The transaction will include shared control mechanisms that preserve key decision-making through special majorities . Clauses will also be established to guarantee the continued existence of Argencons' management team, ensuring its operational continuity.
Your competitor now, partner
Argencons has been in the market for over 50 years and has delivered over one million square meters since its creation in 1969. Today, it has 23 developments underway in Punta del Este, Colonia, Belgrano, Palermo, and San Telmo, among other areas.
Miguel Camps next to Gonzalo de la Serna seven years ago at the LA NACION real estate summit: no one imagined this outcome.THE NATION
The company gained prominence in the real estate market when it created the Quartier towers in the 1990s, recognized for their potential to revitalize neglected neighborhoods in the city.
In fact, Miguel Camps bought the land where the first towers were built in Palermo Nuevo in the 1980s when the area was a rat's nest .
Today, it's one of the city's most expensive submarkets: prices per square meter in the area's first-class towers don't fall below US$8,000/m2.
Quartier District, the project developed by Argencons in Paseo del Bajo
Another of the developer's emblematic projects is Distrito Quartier , located on Paseo del Bajo and meters from Puerto Madero.
It is a mixed-use development comprising three buildings and a commercial promenade: the Plaza building, with its corporate offices; the Lofts building, repurposed based on the architecture of the former Railway Hospital, with residential units suitable for professional use; and the Studios building, made up of flexible units that can be used for residential, temporary rental, or commercial office use.
The project has already become a gastronomic hub in the city with brands such as BASA, Havanna, Ancora (part of the Aldo's group), Sport Club, and the specialty coffee Botanicafé, among others.
With a total area of 120,000 m², the development is directly connected to the Illia Highway, the Costanera Norte highway, Retiro Station, and Plaza San Martín . "The location combines transportation connectivity with security; few places are as accessible by both private and public transportation," says Carlos Spina, partner and director of Argencons.
A year of action for Costantini
For his part, Costantini is more restless than ever. In recent months, he has completed important transactions. Two weeks ago, he spent more than US$21 million on the purchase of a 3,471.70 m² mega-lot of land in Palermo.Located at 615 Soldado de la Independencia Street, between Ortega y Gasset and San Benito de Palermo, steps from the Campo Argentino de Polo and two blocks from Avenida del Libertador , the acquisition surprised the real estate market, especially because it paid 40% more than the base price at the ABEE auction. "We think it's a lot with an excellent location and a lot of potential. We're interested in developing a quality residential project ," Gonzalo de la Serna, CEO of Consultatio, told LA NACION .
The land located in Soldado de la Independencia that was acquired by the creator of Nordeltaargentina.gob.ar
In addition, at the beginning of the year, it spent US$13 million to purchase 141 hectares in Carrasco , Montevideo, where it plans to create an open residential neighborhood.
Days later, he acquired the land that had once belonged to Lázaro Báez. He paid US$10,800,000 for 145 hectares, located at kilometer 170 of Route 10, five kilometers from Punta Piedra, before reaching the José Ignacio area in Punta del Este.
"The change and relaxation of regulations on horse immigration will make Uruguay a natural center for polo, a world reference, as it was in Palm Beach," the businessman explained to LA NACION. He has no doubt that Punta del Este will be a key international destination due to the number of foreigners who visit the city every year, and for whom the polo program is part of their central agenda.
The field where he plans to develop a polo-related project near José Ignacio
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