Brainsre compiles below the weekly news highlights.
Investment – How to invest with the new Housing Law? Launch of Loopa
- Loopa aims to transform the investment opportunity search process by providing all the necessary facilities to investors, offering a value proposition that streamlines the process.
- Loopa eliminates the limitations of investing only in familiar neighborhoods or trendy areas by analyzing strategies and neighborhoods objectively with professional criteria, presenting investors with a wide range of opportunities.
- Loopa’s platform simplifies the investment process by filtering out irrelevant ads and providing users with direct access to available listings. It also offers estimated negotiation prices based on real property sales data and expected profitability, enabling investors to make informed offers for a potentially successful investment.
Hotel – RSR Singular buys an office building in Madrid to transform it into a hotel for 24.5 million euros
- RSR Singular Assets Europe has acquired an office building in Madrid for €24.5 million with the intention of converting it into a hotel, according to the company’s announcement on Euronext Paris.
- The purchased property by RSR Singular has a total built area of 6,745 square meters.
- RSR Singular’s portfolio currently consists of seven assets, including five hotels, one tourist apartment building, and the aforementioned office building, with a total market value of approximately €215 million.
Land – Valdecarros sells three residential plots to Aedas Homes and Habitat for more than 18 million euros
- Valdecarros has completed the first round of land auctions in its development, where different developers bid for three residential parcels available in the initial phase of this new area in Madrid.
- Habitat has been awarded one of the parcels with a building capacity of 4,442 square meters, while Aedas Homes has acquired the remaining two parcels with building capacities of 5,669 and 7,372 square meters, respectively. The total purchase amount exceeded 18 million euros, with a land cost of approximately 1,050 euros per square meter.
- The two developers will construct around 190 free-market homes in two projects, located near Avenida del Mayorazgo. With these three auctions, the financial plan for Valdecarros approved in 2021, aimed at covering the urbanization expenses of the area, is confirmed.
Residential – AQ Acentor will invest 35 million euros in its first residential development in Murcia city
- AQ Acentor makes its debut in the residential market of Murcia by announcing the purchase of land for the development of over 100 homes, involving an investment of around 35 million euros.
- The company sees this investment as an opportunity to be present in one of Spain’s most dynamic residential markets, highlighting Murcia’s strategic importance within their investment strategy in the Levante region.
- The project will be located in the North Zone of the city, which has experienced significant expansion in recent years and is considered one of the most attractive and dynamic areas in Murcia.
Residential – Pictet and Blasson agree with Mandarin to manage 30 new luxury homes in Madrid, valued at 160 million euros
- Pictet and Blasson Property Investments have partnered with Mandarin Oriental to develop the first branded residential project in the capital city, featuring exclusively residential properties. The project is expected to consist of 30 high-end homes with an average price that could exceed 5 million euros, resulting in a total sales volume of around 160 million euros.
- The partners acquired a former Telefónica leased building, which has already been demolished, to make way for Mandarin Oriental Residences. This prestigious project will be located at the intersection of Hermosilla Street, 47, and Núñez de Balboa Street in Madrid’s Salamanca district.
- The project will offer 30 residences distributed across seven floors, featuring two and three bedrooms and living spaces ranging from 180 to 283 square meters.
Industrial/Logistics – Abrdn sells a logistics platform in León to Iroko Zen for 18.5 million euros
- One of Abrdn’s funds has announced the completion of the sale of Decathlon’s logistics platform in Villadangos (León) to French company Iroko Zen.
- The asset was acquired in 2018 and served as the first investment for this specialized logistics fund in Europe. The total amount of the transaction reached 18.5 million euros, providing profits and liquidity to the asset manager.
- Over the past five years, this asset has generated the expected returns, and this sale allows Abrdn to realize its objectives and generate profits.
Companies – CaixaBank awards management of its real estate portfolio to Intrum, Azora and Haya Real Estate
- BuildingCenter, a subsidiary of CaixaBank focused on divesting properties from the group’s portfolio, has announced the winning companies for the management of its main real estate services: Intrum for the sale and maintenance of properties from CaixaBank’s portfolio, Azzam from Azora for rental management, and Haya Real Estate for the maintenance of properties from Bankia.
- Intrum has been selected as the company responsible for the sale and maintenance of properties from CaixaBank’s portfolio for the next three years, with a possible extension of 18 months.
- Azzam, a specialized servicer in residential rental asset management, has been chosen to manage the leasing of properties from CaixaBank’s portfolio for the next two years, with a possible extension of 12 months.
Offices – Siemens sells its Cornellà headquarters to Europi, Arié and Kefren Capital
- Europi Property Group, family office Arié and Kefren Capital has completed the acquisition of its second office building in Barcelona, located at Lluís Muntadas 5 in Cornellà de Llobregat.
- The building was acquired from Siemens through a partial sale and leaseback transaction. The asset features 13,088 sqm and at the time of the acquisition, the building has an occupancy rate of 86%.
- The joint venture aims to expand its presence in the Barcelona office market and capitalize on the high-quality office space offered by the newly acquired building, enhancing its portfolio and investment prospects.
Industrial/Logistics – Madrid logistics market exceeds 248,000 m2
- The demand for logistics spaces in Madrid remains strong, leading to a decrease in availability.
- In the first quarter of 2023, 24 new logistics operations were recorded, totaling 248,683 square meters, with an average contract size of 10,362 square meters.
- Compared to the same quarter in 2022 and the previous quarter, there has been a significant decrease in contracting activity, mainly due to a decrease in the average size of operations.
