175
175
  • Transaction / Assets
    Casa Cerdá (Murcia)
  • Seller
    Individual investors
  • Buyer
    Grupo Baraka
  • € MM
    20

Grupo Baraka to Invest €20M in Casa Cerdá in Murcia

25 May 2018 – Expansión

Grupo Baraka is continuing to grow its portfolio of properties. The real estate group chaired by Trinitario Casanova has purchased Casa Cerdá, located in Murcia, from a group of individual investors. The plan is to convert the property into luxury homes for rent.

The investment by the Murcian firm in the property will amount to €20 million, including both the purchase and renovation of the asset. The Casa Cerdá building, with a surface area of 3,500 m2, is one of the most iconic properties in the city. The asset, which is almost ninety years old, is located in Plaza de Santo Domingo.

The property is going to be remodelled to house 24 premium homes for the rental market. The first homes will be available for rent from the beginning of 2019.

Moreover, the lower part of the property is going to be converted into a flagship store for a “large company”, which will occupy around 1,000 m2.

Original story: Expansión (by Rebeca Arroyo)

Translation: Carmel Drake