Urbagestión reaches an agreement so that Maricarmen Abascal returns to her home

MadridUrbagestión, the investment fund that owns Maricarmen Abascal's apartment, reached an agreement this Monday with the resident's lawyers so that she can return home. The 87-year-old woman was evicted last week from the apartment where she lived in Madrid's Retiro neighborhood, which has triggered mobilizations throughout the State, an encampment at the Puerta del Sol in Madrid, and a race-against-the-clock negotiation between the Spanish government and its investiture partners for an emergency housing decree. Now Maricarmen will have to ratify the agreement, her representatives explained, stating that she will have to pay around 30% of her pension, approximately 500 euros (similar to the amount she was paying until now), in a contract renewed for eight years.

"It is a historic milestone. It had never happened before," celebrated Maricarmen Abascal's lawyer and the Tenants' Union, who lamented the role of public administrations, which "shone by their absence." Once she is discharged from the hospital, Maricarmen will be able to return to her home.

The agreement between Urbagestión and Maricarmen's representatives and family members was reached this Monday night after four hours of negotiation. The Municipal Housing and Land Company of the Madrid City Council also participated in this meeting, acting as a mediator. The Tenants' Union has accompanied the resident throughout the entire process. After being evicted, the resident had been admitted to the Gregorio Marañón hospital in Madrid while awaiting a housing solution.

Faced with social and media pressure, the investment fund proposed ceding—not selling—the apartment to the Madrid public company so that it could rent it to Maricarmen at an affordable price. The public entity, however, rejected it because the apartment did not meet the requirements.

The property owner proposed a rent increase to 1,650 euros, an amount that Maricarmen could not afford: she has a pension of 1,350 euros and until now was paying 500 euros in rent because she had an old rent contract. Despite negotiation attempts by Maricarmen's lawyers—the eviction last week came after three previous attempts at execution—and the pressure from the Tenants' Union, the investment fund had remained stubborn. In fact, Urbagestión, which bought the apartment from Renta Corporación, even asked her for 2,650 euros.