Thursday, July 9, 2020
Home REITs Millenium Exp...

Millenium Expands its Board to Includes Former Directors of UBS and NH

Following these new additions, Millenium's Board of Directors will be made up of two executive directors, three proprietary directors and five independent directors.

Javier Illán, Head of the Socimi, at its stock market debut.

The Board of Directors of Millenium Hotels Real Estate has agreed to convene a General Meeting on 27 July on the first call and 28 July on the second call. The agenda items for the meeting include a proposal to expand the number of Board members to 10 from the current contingent of 6.

In this way, 4 new directors will be admitted, of whom 3 will be independent directors and the fourth a proprietary director representing Ibervalles. The General Meeting coincides with the capital increase that the company launched last week, with the aim of continuing with its value added investment plan. Its plan is based on the acquisition of prime hotel assets, or properties with the potential for hotel use, located in the main cities and tourist centres of Spain and Portugal, and operated by the leading brands in the luxury segment.

Read the full article in Spanish.


House Prices in Madrid Rise by More Than 45% in Five Years

The average home cost 295,927 euros in the Spanish capital at the end of March, compared to 165,280 euros on average in Spain.

How Much Does it Cost to Rent a Home in Your Area According to the Government’s Statistics?

The map prepared by Brains RE using data from the Ministry of Development's index reveals the rental prices in each municipality in Spain; and they vary quite a lot compared to other indicators.

Where are the Most Expensive Homes in Spain?

25 Spanish towns registered house sales costing more than 3,300 euros per square metre during the first quarter, including eight municipalities in the Balearic Islands.

House Sales Reach their Highest Prices in 8 Years

Homes sold during the first quarter of 2020 registered the highest prices seen in the last eight years, with an average of 1,747 euros per square metre; four autonomous regions accounted for 70% of the total sales volume.

Latest news

Pontegadea Earns €1.8 Billion and Increases its Real Estate Portfolio to More Than €15 Billion

Amancio Ortega's holding company closed 2019 with revenues of €2.3 billion, of which €0.6 billion came from its real estate activity, with buildings located around the world.

Amancio Ortega Reorganises his Property Portfolio and Carves Out the British Assets into a Separate Company

The owner of Inditex is unifying his real estate portfolio in Spain, separating out his assets in the United Kingdom into a new company and reordering his financial investments.

Patrizia Raises More Than €1 Billion for its Latest Fund which will Invest in Logistics Assets in Spain

The manager has announced the closure of its flagship fund TransEuropean VII LP ("TEP VII"), which has reached its maximum capital limit of 750 million euros and which plans to invest more than 1 billion euros over 3 years.

Allegra Reinforces its Expansion with the Appointment of José Joaquín Puig de la Bellacasa

In his new position, Puig de la Bellacasa is going to strengthen the domestic and international investment strategy of the group that specialises in the investment and development of real estate assets.