Tuesday, September 22, 2020

CBRE GI and Montepino Prepare the Sale of the Largest Logistics Portfolio of the Year

The companies, through the joint venture they created in 2017, will put up for sale a portfolio of assets with a combined gross leasable area of more than 800,000 square metres.

Historical Data Reveals that House Prices Will Fall in 12 Months

The cost of purchase time and very late registrations in the case of the sale of new homes; asking prices versus actual sales prices in the case of second-hand homes, and, in particular, unemployment, distort the calculations. The fall in appraisal prices is already giving clues.

The Torre Outlet Zaragoza Shopping Centre Will Open on 22 October

The opening of the Torre Outlet Zaragoza will result in the creation of 1,000 direct and 8,000 indirect jobs.

The Latest Movements in the Residential Rental Market

Investment funds and real estate companies alike are strongly backing the 'build to rent' segment. Aedas Homes is going to launch more than 1,500 homes for rent; AXA IM is acquiring 919 units; whilst Primonial and Grupo Lar are going to invest 400 million euros to develop 5,000 homes.

The Real Estate Impact of the Creation of Spain’s New Largest Bank: Caixabank-Bankia

Gonzalo Gortázar will be the CEO of the new entity and José Ignacio Goirigolzarri will be the Executive President.

Merlin Integrates 30 Buildings Close to Madrid Nuevo Norte to Create Europe’s Largest Business Hub

The Socimi has integrated 330,000 m2 of office space that it owns in the north of Madrid into a hub that will offer new approaches to transport and services.

Buyers Opt for Single-Family Homes After Lockdown

According to Knight Frank, three out of every four respondents to its survey in Spain now place more importance on their habitual residence having outdoor space, such as a garden or terrace.

Latest News

WAY Dos Hermanas Will Open Its Doors on 6 October

Kronos Properties' new commercial and leisure space, in which 65 million euros has been invested, will hold a private event on 6 October before opening its doors to the public the following day.

Elix to Propose a Share Capital Increase of Up To €34 Million

The increase is equivalent to 50% of the current share capital and would likely take place over a five-year period.

The Bank of Spain Warns of an “Incomplete” Recovery in the Real Estate Market

The entity forecasts an increase in investment in housing during the second half of the year associated with the progressive normalisation of the figures for house sales and new build starts.

Urban Land Prices Fall by 15% to Historical Lows

In the second quarter of the year, the average land price stood at 139.6 euros per square metre, down by 15.2% compared to 2019. In this way, it has fallen to the lowest level in the historical series.

Quabit Records Losses of €50 Million to June

The property developer recorded losses amounting to 37 million euros on the value of some land, which exacerbated its losses, despite delivering 410 homes during the first six months of 2020.

Room Mate Opens its First Apartment Building in Málaga

The property comprises nine exclusively-designed standard, superior and duplex apartments in the Be Mate division, including an impressive 114 square metre penthouse.

Premier Wins the First Post-Covid Land Auction from the Ministry of Defence

It fought off competition from the property developer Aedas Homes, with an offer of 12 million euros for the plot, which is located between Julián Camarillo and Avenida de Canillejas-Vicálvaro, in the Spanish capital.

More than 3 Million People in Spain are Regularly Working From Home, 3 x More Than a Year Ago

A total of 3.01 million people in Spain are working from home on a regular basis, which means that the figure registered in 2019 has increased by 3.2x, according to Randstad.

The Appraisal Value of Homes Falls by 1.7% After Five Years of Growth

The appraisal value of private housing fell by 1.7% to 1,610 euros per square metre in the second quarter, the first drop since the first quarter of 2015, according to Mitma.

Kennedy Wilson Obtains Approval to Transform Puerta del Sol 9

The company has obtained initial approval for the modification of the Special Plan to transform the building from residential to commercial use.

Colonial Launches a Share Repurchase Program Worth Up To €25 Million

The Socimi led by Pere Viñolas plans to acquire a maximum of three million shares, which represent 0.59% of the company's current share capital.

Catella Buys 2 Office Buildings in Madrid for More Than €35 Million

The fund manager has acquired two office buildings located in the Julián Camarillo area of Madrid, with a combined surface area of more than 13,000 square metres, for 35.5 million euros.

Blogs

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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.

Population Density is Not an Enemy in the Fight Against Coronavirus: Here is the Evidence from China and Spain

In regions such as Soria, Segovia, La Rioja and Albacete, the number of people infected by coronavirus per 100,000 inhabitants exceeds one thousand, which is higher than the rates in other areas where the population density is higher such as Madrid and Valencia.

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.

Idom Sells its HQs to Catalana Occidente and Grosvenor for €90M

The engineering company has sold its headquarters in Bilbao and Madrid to Catalana Occidente and the Grosvenor Group for €90 million.

B-Exclusives

How Covid is Affecting House Prices: Map of the Decreases by District

The coronavirus crisis is causing house price decreases of up to 70% in some municipalities in Castilla La-Mancha, the Community of Valencia and Andalucía.

Property Developers Launch Large Urbanisations Post-Pandemic

Between April and August, work began on 996 developments in Spain with the ten largest comprising 1,691 homes. Of those ten, which are located in Madrid, the Basque Country, the Community of Valencia and Andalucía, four are being built by Amenabar.

Fearless Despite the Crisis: Property Developers Start Work on More than 27,000 New Homes Since April

Between April and August, work began on a total of 996 developments and 27,882 homes in Spain, according to data from the real estate big data platform Brains RE, with Amenabar, Habitat and Aedas the most active players.

Madrid Backs Luxury Housing to Curb the “Suburb Effect” of the Pandemic

Moncloa and Chamberí overtake the neighbourhood of Salamanca as the districts with the most expensive new build homes in the capital, whilst in Moratalaz there are no new build homes on the market.