residential Market News: Spanish Real Estate Intelligence

Víctor Madera, Ex-CEO of Quirón Salud, Acquires Hunting Estate in Cáceres
23 August 2019 Víctor Madera, the former CEO of Quirón Salud, has acquired the Valero estate, the largest such property in the Monfragüe National Park, in Cáceres. The estate, which had previously belonged to Fernando Falcó y Fernández de Córdoba, the marquis of Cubas, has 4,350 hectares, 1,350 of which are within the limits of the park. The farm had been in the hands of the Falcó family since the early nineteenth century. Sources say that the estate was sold for approximately twenty million euros. Original Story: El Comercio - L. Castro / A. Armerogijón Photo: Ismael Rozalén Adaptation/Translation: Richard D. K. Turner
Ares European Real Estate Fund V Closes After Raising €1.78 billion
21 August 2019 The Ares Management Corporation announced that it would close subscriptions to its Ares European Real Estate Fund V (REFV) after reaching €1.78 billion in funds. The fund, Ares largest, had originally looked to raise €1.25 billion. The REFV was created to “acquire undermanaged or underfunded assets out of distressed ownership structures or complex situations, and actively managing them through to exit into the institutional market.” Ares’ latest fund will invest in an array of sectors, including residential, office, industrial and mixed-use assets, mostly in high-liquid European markets such as Germany, France, the U.K. and Spain. Original Story: Business Wire Adaptation/Translation: Richard D. K. Turner
Latin Americans Look to Acquire Homes in Madrid
21 August 2019 According to a report by Knight Frank, Latin American investors, including buyers from as Venezuela, Colombia and Mexico, are increasingly looking to acquire properties in Madrid’s prime residential market. The investors, many of whom tend to spend three to six months per year in Spain, look to buy flats that can be used as short-term rentals for the rest of the year. Holiday rentals in Madrid are increasingly sought out by sophisticated buyers who are willing to spend approximately €500,000 to furnish and redecorate the flats. The trend is even expected to accelerate in the short-to-medium term given the high quality of life and lower cost of living in Spain compared to Europe’s other major capitals. Original Story: Short Term Rentalz Adaptation/Translation: Richard D. K. Turner