Thursday, February 25, 2021

CBRE GI & Montepino Receive 12 Offers for the Logistics Operation of the Year

Large international funds, sector specialists and Spanish private banks are all bidding in what is expected to be the largest real estate transaction of 2021.

The Hotel Sector Continues to Suffer: Revenues Plummeted by 73% in January

Overnight stays in hotels fell by 81.2% in January to 2.3 million; while the average daily revenue per available room (RevPAR) stood at 12 euros, down by 73%, according to the INE.

Grupo Ática and the Calabuig Family Buy Land From Coral Homes to Build 675 Homes in Benicasim

The plan is to build 25 single-family homes, 650 high-rise apartments and a hotel on the acquired land, which spans 240,000 square metres in total.

S&P Forecasts a Moderate Rise in House Prices in Spain in 2021, With a “Sprint” of 4.3% in 2022

Home purchase intentions are at their highest level since 2003, but the ratings agency warns of overvaluations.

Apax Partners Repurchases 17% of Idealista for €250 Million

The buyback is taking place two months after the sale, and the transaction has been closed for 250 million euros.

Metrovacesa Lost €163 Million in 2020 Following a Decrease in the Value of its Assets

The property developer saw its losses soar in the year of Covid from 4.5 million euros a year earlier, after recognising a provision of 135 million euros for the impairment of its portfolio.

Lar España Sells 22 Supermarkets to Blackbrook for €59 Million

The Socimi has sold a portfolio of 22 supermarkets operated by Eroski, which have a combined leasable area of 28,000 m2, to the British fund.

Latest News

IBA Capital is Preparing to Invest €200 Million in Offices, Retail and Logistics Assets

The fund, which invests the French Castel family's capital in Spain and manages the Socimi Zambal, is negotiating the purchase of the Glóries office complex in Barcelona along with other operations.

Metrovacesa Prepares to Sell Another 500 Homes Through Build-to-Rent

The developer has taken 550 homes off the market in Valencia, Alicante and Entreúcleos (Sevilla) to sell them to investors interested in the rental sector in Spain.

AQ Acentor Receives the Green Light to Build a Mega-Project in Valencia

The company will invest around 350 million euros to build an urban project spanning more than 168,000 m2, which will house retail, leisure, hotel, residential and office areas, amongst other services.

The Leasing of Coworking Spaces Plummets to 2012 Levels Due to Covid

During 2020, only 2,800 square metres of coworking space was rented in Madrid and 4,500 m2 in Barcelona, which represents a sharp drop compared to the 150,000 m2 leased in 2019.

Sareb Refinances €9.5 Billion of Senior Debt to Repay Bonds Issued in 2019 and 2020

The company that owns assets from the rescued banks is placing two senior bond issues: the first amounting to 4.1 billion euros and the second amounting to 5.4 billion euros.

Barcelona Evaluates Hotel Purchases with Financial Partners, As Well As Possible Mergers

The firm has said that it will reposition its hotel portfolio and promote a 'powerful' opening plan in Spain and abroad during 2021.

Eurofund Buys Amazon’s Logistics Project in Girona

Eurofund and LCP have acquired the land on which the American giant's future logistics centre is going to be located. The centre will span 175,000 square metres.

Madrid to Definitively Approve the New Neighbourhood Next to La Moraleja on 23 February

The developers of La Solana de Valdebebas, which are planning to build 1,393 homes alongside one of the most exclusive areas in the city, say that there will be houses in the area by 2024.

Gestilar & DWS Pay Mapfre More Than €100 Million for Several Plots in Madrid

The companies have paid the insurer 106 million euros for various plots of land, located in Getafe and the Ensanche de Vallecas, on which they plan to construct build-to-rent homes.

Who Are the Construction Kings in the Balearic Islands?

Ten of the major real estate companies, including Taylor Wimpey, Metrovacesa, Aedas and Vía Célere, are going to deliver nearly half of the almost 2,500 homes that are scheduled for completion on the islands this year, according to Brainsre.

The PSOE Eliminates a Decrease in Rental Prices from its Draft Housing Act

The Minister for Transport, Mobility and the Urban Agenda has revised the pact between the PSOE and Unidos Podemos regarding the lowering of rental prices and is limiting it to looking for formulas to avoid abusive increases.

Tristan and Kefren Acquire a 65,000 m2 Logistics Platform in Zaragoza

The new warehouse is located on the Malpica Industrial Estate and spans an area of ​​65,000 m2 on a 100,000 m2 plot. Malpica is one of the most consolidated logistics hubs in Zaragoza, with direct access to the A-2 motorway.

Blogs

The Ageing Population and Senior Housing Options

A new generation of grey-haired citizens, empowered by their increasingly better health and more plentiful economic resources, are factoring in their well-being when it comes to choosing the housing model and city where they want to live out their final years. This represents a challenge for city managers and the real estate business ecosystem, but it is also an opportunity for the development of new models, both in terms of architecture, as well as in terms of new management, operation and financing formats.

Must Read

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Brainsre.news: What Happened in April 2020?

The impact of coronavirus defined the real estate market in April, although operations were actually closed in the commercial and logistics markets and new projects were announced in Madrid and Málaga.

Hotelbeds Receives a €430M Injection from 3 Funds to Head Off the Risk of Bankruptcy

Cinven, EQT and Canada Pension Plan Investment (CPPI) have decided to contribute €430 million to the Spanish company, which they acquired in 2016.

Santander Explores How to Securitise NPLs Through Deva Capital

The entity has created the company Deva Capital as a vehicle to explore the purchase of damaged assets from financial institutions around the world, according to various financial sources consulted by the newspaper Expansión. Investment banking sources stress that Santander's subsidiary in Brazil already acquires these types of assets from the banks through its real estate servicer.

The Impact of Coronavirus on the Spanish Real Estate Market, According to the Experts

Brainsre.news interviews five experts in the sector to find out what the effects of the pandemic have been, how investment will evolve, which assets are best positioned and what will happen if there is another outbreak.

Latest Transactions

LCN Capital Partners Signs an Agreement with Mercadona to Buy 36 of its Supermarkets

The fund specialising in the purchase and subsequent rental of assets has signed an agreement with Mercadona to acquire the 36 supermarkets that the retailer has on the market.

AXA IM Buys 919 Rental Homes in Madrid from Tectum for €150 Million

Axa's real estate manager has starred in the largest turnkey operation involving rental homes in Spain to date.

Leo Messi Buys the Himalaia Hotel in Baqueira Beret

FC Barcelona player Leo Messi has purchased the Himalaya Hotel through his hotel company MiM. It is a four-star hotel establishment, located in Baqueira.

Mandarin Finalises the Purchase of its Third Hotel in Spain

The American hotel chain is negotiating the purchase of the Punta Negra hotel in Mallorca - an operation in which it plans to invest 135 million euros.

B-Exclusives

Who Are the Construction Kings in the Balearic Islands?

Ten of the major real estate companies, including Taylor Wimpey, Metrovacesa, Aedas and Vía Célere, are going to deliver nearly half of the almost 2,500 homes that are scheduled for completion on the islands this year, according to Brainsre.

The Lowdown on the Decrease in Rental Prices in Madrid Post-Covid

The price of rental homes in Madrid has decreased for the third consecutive quarter, although the average asking price still exceeds 1,200 euros per month, according to Brainsre.

Ranking of Property Developers in Barcelona By Number of New Homes They Plan to Complete

Five property developers lead the new-build residential market in Barcelona and neighbouring towns, according to the big data platform Brainsre.

The Rental Market a Year After the Outbreak of the Pandemic

Rental prices are continuing to fall, with a decrease of almost 9% in the last three months alone, according to Brainsre. Nevertheless, the amount of time it takes to find a tenant has increased by 40% since the Covid crisis began.