The German multinational financial services company Allianz is in advanced negotiations with the British fund Globe Invest to acquire a residential portfolio comprising 560 homes, according to El Economista. The transaction is expected to be worth approximately 200 million euros.
Three hundred and fifty units are located in Madrid, while the other 210 are in Barcelona. Spain’s capital accounts for approximately 55% of the transaction’s value.
In June, Allianz formalised its acquisition of the socimi Elix Vintage for 140 million euros. This vehicle, previously owned by KKR and Altamar, owns 420 homes in 21 buildings in Madrid and Barcelona. In addition, just one month later, the socimi Persépolis sold three residential buildings in the centre of Madrid to Elix for €15 million, which were added to Allianz’s portfolio.
Globe Invest is owned by the Israeli billionaire Teddy Sagi. The fund has accumulated flats in Spain since 2018, including 600 acquired from the Catalan family office Tauro Real Estate for 180 million euros.