alternative Assets News: Spanish Real Estate Intelligence

Mazabi to Invest €40 Million in New Co-Living Development in Madrid
8 November 2019 – The Spanish asset management Mazabi intends to invest a total of €40 million in converting the properties located at Calle de los Madrazo, 6, 8 and 10 into 25 luxury co-living flats with a total of between 60 and 80 rooms. Mazabi is currently negotiating with potential partners to operate the development. The firm is looking to focus on three-to-twelve month rental contracts, with the development opening in the second half of 2020. The building, which the firm acquired three years ago, has 8,000 square meters of surface area for flats, with another 2,300 m2 for stores. Of the latter, Mazabi is looking to create a flexible workspace, stores and restaurants. Original Story: Eje Prime - Marc Vidal Ordeig Adaptation/Translation: Richard D. K. Turner
Syllâbus to Invest in Two New Student Residences in Madrid
1 November 2019 – Syllâbus, a student housing firm controlled by the Urbania International real estate investment group, will build two new housing developments in Madrid. The company plans to invest more than €30 million in the student residences, thus adding a total of 499 rooms to its portfolio. The first, Syllâbus Moncloa, is in Moncloa will have 249 rooms and almost 6,800 m2 of surface area. The residence will include a gym, cafeteria and music room. The firm will build Syllâbus Paseo de la Habana, the second project, close by the Paseo de la Habana in Chamartín, next to the city’s main universities and business schools. The 250-room development will have a large garden with swimming pool and a rooftop terrace. Original Story: Alimarket - Javier Rosell Adaptation/Translation: Richard D. K. Turner
Orinoquia Real Estate to Invest €47.7 Million in Co-Living and Temporary Stay Projects in Spain
30 October 2019 The Venezuelan family Capriles is increasing its bet on the Spanish real estate market, after a major push into the luxury residential market with Gran Roque, its developer. Now, their socimi, Orinoquia Real Estate, will invest more than 47.7 million euros in co-living and temporary stay projects. The socimi plans to build seven buildings and more than 205 flats. The first two buildings, in Málaga and Valencia, are already under construction. The others will include another in Málaga, two in Seville and one in Madrid. Original Story: Idealista - Custodio Pareja Adaptation/Translation: Richard D. K. Turner