Friday, January 15, 2021
Home Companies The Key to Ne...

The Key to Neinor’s Purchase of Quabit: a Portfolio of 2,700 Rental Homes

Besides a construction company, the acquisition of Quabit for 62 million euros will also provide Neinor with 7,000 potential new homes, half a million m2 of land and more than 200,000 m2 of land already under construction.

Quabit Inmobiliaria’s residential development in Guadalajara.

Neinor Homes announced this Monday that it was buying its listed rival, Quabit, in a merger by absorption operation that values the target company at 62 million euros, compared to its stock market capitalisation of 53 million euros, which represents a premium of almost 20%. Neinor is certain that 65% of the cost of the transaction will be covered by the cash flows generated by developments that are either completed and under construction with high levels of pre-sales.

What does Quabit contribute?

So what does Neinor get for 62 million euros? Firstly, a construction company, Rayet, the firm through which the founder of Quabit, Félix Abánades, first entered the real estate market. Plus a considerable reduction in costs, and a model that other companies, such as Amenabar and Gestilar, have traditionally used to better control the construction process.

Read the full article in Spanish.


Which Are the Areas of Madrid Where Homes Are Sold or Rented the Quickest?

The health crisis is taking its toll on the time it takes to sell or rent a home in the Spanish capital, although some areas are resisting better than others, according to Brainsre.

Rental Properties No Longer “Fly Off the Shelf” in Barcelona as the Time it Takes to Find a Tenant Increases

It now takes 2.2 months on average to rent out an apartment in Barcelona, up from 1.5 months, according to Brainsre, however, the city still has one of the most liquid rental markets in the country.

Special B-Exclusives: How Many Square Metres Did Spaniards Spend the Lockdown in?

Every household in Spain has an average of 42.75 square metres for each inhabitant, with 2.51 people in each home. Ceuta, Melilla, Guipúzcoa and Madrid are the areas with the least space.

The Retail Crisis of 2008 Lasted 5 Years As Store Prices Fell by 33%: How Much Could They Fall During this New Crisis?

The Covid-19 crisis has come at a time when the prices of commercial premises have not yet recovered from the previous recession, the consequences of which lasted for five years.

Latest news

Värde Reactivates the Sale of its Stake in La Finca GA

The US fund has resumed the sale of its 38% stake in the Socimi controlled by the García-Cereceda family, in light of the interest from investors.

The Government Proposes Tax Credits for the Owners of Flats with Low Rents

This measure forms part of a package of proposals included in the new Housing Act in October that the President of the Government, Pedro Sánchez, promised to present within three months.

What Does 2021 Hold According to the Large Property Developers?

The country's main real estate companies, such as Aedas, Neinor, Realia and AQ Acentor, predict further growth in the price of new homes, due to the demand for repositioning and the reduction in supply.

The Owner of Grifols Injects €60 Million into its Real Estate Company Padolc

Víctor Grifols, owner of the Catalan pharmaceutical company, is backing the real estate sector by increasing the share capital of his company Padolc by 60 million euros.