Both the airport manager and Adif (the railway manager) will stop collecting rent from the stores that have been forced to close as a result of the state of emergency.
Aena has notably reduced capacity and operations at its airports due to the sharp drop in airline activity as a result of the coronavirus crisis and the Government’s restrictions on mobility. The company will stop collecting rents from stores in its terminals and stations.
“Aena will reorganise the capacity of its facilities to adapt them to current demand and whereby improve their management and efficiency,” announced José Luis Ábalos, Minister for Transport, during a press conference.
Likewise, the airport manager will not collect rents from the establishments that have been affected by these closures. In the case of the Adolfo Suárez Madrid-Barajas airport, this will mean the progressive closure of terminals 1,2, 3 and T4 satellite, to concentrate all air traffic in the capital in T4 only. In Barcelona, Aena will close one of the runways at El Prat, along with Terminal 2.
In collaboration with the Emergency Military Unit (UME), the Community of Madrid is converting the ice rink in the Palacio de Hielo shopping centre into a makeshift morgue due to the saturation of the crematoriums and following the mayoral decree to close the municipal funeral parlour.
The concession company that operates the Palacio de Hielo has ceded its facilities to house the corpses of those killed by Covid-19 until the funeral homes are able to take care of them, municipal sources have reported.
In collaboration with the Emergency Military Unit (UME), the Community of Madrid is going to convert the capital’s ice rink into a morgue due to the saturation of the crematoriums and the closure of the municipal funeral parlour, as decreed by the mayor José Luis Martínez-Almeida. The ice rink will house bodies until the system has been decongested and it will guarantee the supply of material for mortuary professionals, for example. Therefore, the Community of Madrid and the UME will be responsible for developing the operating procedure once the installation is ready.
Madrid’s ice rink spans a surface area of 1,800 square metres and is operated by a company called Equidosa on a concession basis.
The Socimi acknowledges that the suspension of classes due to the coronavirus will have an impact on the operator’s operating results and, as a result, on the future evolution of the company’s income.
The company has sent a statement to the CNMV in which it assures that, given the current events that are taking place as a consequence of COVID-19, it is “constantly monitoring” the evolution of the hall of residence that it owns in Madrid to assess which initiatives to implement and to address the situation.
“The suspension of face-to-face teaching activity in the universities has caused a drastic reduction in the number of residents living in the centre, which it is currently operating at minimum occupancy levels,” say sources at the Socimi, who claim not to have any affected people in its facilities.
Nevertheless, the company acknowledges that although it is still too early to determine its final scope, “this circumstance will have an impact on the operator’s operating results and, as a result, on the future evolution of the company’s income”.
The investment bank Arcano has been the global coordinator and underwriter of the operation, whose bonds will be listed on BME’s alternative fixed-income platform, MARF.
The bonds have a 5-year term, with a bullet maturity in March 2025 and an annual coupon of 5% payable every 6 months. The objectives of this issue are to boost the group’s expansion in Portugal, refinance the €55 million bond issue from 2015 – with a coupon of 6% -, and distribute a dividend amounting to €10 million. “There has been great demand for the issue from a diverse range of institutional investors including fixed-income funds, pension funds and family offices,” say sources at Arcano.
In 2019, the company had more than 175,000 bondholders on average, and generated total revenues of €47.7 million and an EBITDA of €17.1 million. It operates under the commercial brands Supera and Supera 24 and is one of the main municipal sports centre concessionaires in Spain and Portugal, where it owns or manages 48 sports centres in total, 32 of which are concessions.
This measure seeks to “alleviate the saturation” of public nursing homes and “improve the living conditions of the elderly”, as well as to reduce their level of risk of infection.
The Government is intervening in private nursing homes throughout Spain to alleviate the pressure on public nursing homes and improve the situation for the elderly – the most vulnerable group. This decision was announced by Pedro Sánchez during his speech to the nation on Saturday after he held a videoconference with the Presidents of the Autonomous Regions.
“We are going to ensure that every Autonomous Region has access to the facilities and the material and human resources of the private nursing homes,” explained the Prime Minister.
The real estate company has committed to investing €200 million in residential projects for students and homes for rent in Spain and Portugal.
The real estate investment company CA Ventures is entering the Spanish and Portuguese markets with the objective of investing €200 million a year, and with the appointment of Steven Zijl as the firm’s CEO for both countries.
The real estate company has committed to investing €200 million per year in residential projects for students and homes for rent in Spain and Portugal. The company is focusing mainly on university cities such as Madrid, Barcelona, Lisbon, Valencia, Salamanca and Granada.
The company IQ specialises in student accommodation. Its portfolio contains 67 assets in 27 British cities, where it offers more than 28,000 beds. This year it plans to add another 4,000 beds in cities where demand is rising.
The investment fund Blackstone has purchased the student residence company IQ Student Accommodation from Goldman Sachs and Wellcome Trust for €5.549 billion (GBP 4.66 billion), according to reports from the companies.
IQ is a company specialising in student accommodation. Its portfolio contains 67 assets in 27 British cities, where it offers more than 28,000 beds. This year, it is planning to add another 4,000 beds to its portfolio in cities where demand is rising. Most of the firm’s halls of residence are located in London.
Stoneshield Capital, the investment fund owned by the Argentinian director Juan Pepa, has purchased the Galileo Galilei student residence in Valencia.
Stoneshield Capital, the investment fund owned by Juan Pepa, has purchased the Galileo Galilei student residence in Valencia, which had been owned until now by the Canadian pension fund CPPIB, according to EjePrime.
The fund owned by the
former director of Neinor Homes and Lone Star has acquired this property, which
has been on the market since the middle of 2018. The delay in the transaction
was due to the size of the workforce, which comprises more than 100 workers.
The consideration paid for the asset has not been disclosed.
The company has closed the deal for €15 million through the CESHF II fund. The hall of residence is expected to open in 2021.
Catella Asset Management has bought a student residence in Sevilla for €15 million. The acquisition of this turnkey project, which will be ready in 2021, was completed through the Catella European Student Housing Fund II (CESHF II).
This is the second time that the Swedish company has bought an asset of this kind in the Spanish market. The first was the acquisition of the La Campana hall of residence in Pamplona in 2017. The CESHF II fund manages both assets.
The Luxembourg-based firm Threestones has purchased the Puente Viesgo nursing home in Cantabria from Peninver Inversiones for its fund TSC Fund Eurocare Real Estate.
The property has 147 beds and facilities spanning 6,000 m2. It will now be managed by one of the largest groups in the European socio-health sector, Colisée, which will take over from Residencia Geriátrica Puente Viesgo.
This operation strengthens the position of Threestones in Spain, where it already owns 4 nursing homes in Tarragona, Ibiza, Burgos and Sant Cugat del Vallés.