The firm’s reverse home purchase investment strategy consists of acquiring properties from senior citizens when deciding to monetise the illiquid savings in their homes while retaining the right to stay in their homes during their lifetimes.
The company has an ambitious growth plan for the coming years. It currently has a portfolio of 83 homes and an investment of around 40 million euros. According to Luis Ulibarri, founding partner and vice-president of Almagro Capital, during an interview with El Economista, the socimi’s objective is to multiply its assets twenty-fold over the next three to five years.
Almagro expects to raise 500 million euros, allowing it to invest €1 billion during that period. The socimi guaranteed that it already has “commitments” by some of the partners who participated in the last capital increase.
Read the full article in Spanish