The Catalonian TIC Ownership Structure

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The Catalonian TIC Ownership Structure

Carles Baiges
Developer + Architect, Lacol

La Borda, a 28-unit, 6-story cooperative housing development in Barcelona, Spain, is owned by a nonprofit co-op that ground leases city-owned for 75 years for a reduced rate of $4,000/year. The residents of La Borda, restricted for only those making below the region’s median household income, pay an entry fee of a 20% deposit (~$18,500 per unit), along with a $400-$600/month. Similar to a golf country club, when members leave, they sell the unit shares to the next resident for the same price they originally paid, plus a CPI adjustment.

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