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

Xior Acquires Two Student Residences in Barcelona for €41 Million

28 October 2019 – The Belgian student housing operator Xior Student Housing announced that it had reached an agreement to acquire two new student residences in Barcelona, ​​for a total of 41 million euros.

Xior reached an agreement to acquire The Lofttown residence, a 78-room, 140-bed residence in Barcelona. The asset is currently operational and is located near the Paseo de Gracia, a short distance from several universities and the city’s historic centre.

The firm also acquired Collblanc, another student housing development in the same city. The residence will have a minimum of 128 rooms, with several common areas, and will also operate under The Lofttown brand. The project is currently in the licensing stage, with delivery expected in 2021.

Original Story: Idealista

Adaptation/Translation: Richard D. K. Turner

Apax Eyes Potential €800-Million Sale of Idealista

28 October 2019 – The venture capital fund Apax has begun the process of contacting investors, looking to sell its 80%-stake in Idealista, the online real estate news and sales platform.

Apax acquired its 80% stake in Idealista four years ago for 150 million euros and is now looking to reap a potential windfall of €800 million. The company, however, had initially looked to a possible public listing, but the current state of the market convinced the firm to analyse a direct sale.

Original Story: Eje Prime

Adaptation/Translation: Richard D. K. Turner

Temprano Inaugurates Student Residence in Barcelona

28 October 2019 Temprano inaugurated a new student residence in Barcelona last month, its first foray into that market in Spain. The residence is located next to the Finestrelles shopping centre, in Esplugues de Llobregat.

The residence, which is operated by the firm Livensa Living, has 10,500 square meters of space and 372 rooms, including singles and doubles. The rooms, which have between 19 and 39 square meters of surface area, each have a kitchen and a private bathroom.

The property has common areas, including a swimming pool, gym, sauna, library, audio-visual room and a games room.

Original Story: Eje Prime – M. V. O.

Adaptation/Translation: Richard D. K. Turner

Foncière Siscare Acquires Three Senior Citizens’ Residences for €40 Million

28 October 2019 The French firm Foncière Siscare has acquired three senior citizens’ residences, two in Spain and one in Italy, for a total of 40 million euros.

The acquisition follows the firm’s strategy of consolidating its position in the Spanish healthcare market. Foncière Siscare acquires assets in conjunction with outside investors, concentrating on operations, while the real estate partner invests in the long-term repositioning of the asset.

Original Story: Eje Prime

Adaptation/Translation: Richard D. K. Turner

Whiteni RCajal Acquires Two Buildings in Madrid for its Co-Living Business

24 October 2019 – The socimi Whiteni RCajal, which is listed on Paris-based stock exchange Euronext, announced that it had acquired two buildings in Madrid. The firm intends to redevelop the properties for use in its co-living business.

Construction is set to begin in the middle of next year and finish by 2022. The building, located on Calle de Fomento and Calle del Rio, have a total surface area of 2,000 m2.  Whiteni RCajal will build and operate fifty flats and studios, in addition to 330 m2 of common areas, with meeting rooms, study and leisure areas.

Original Story: Idealista

Adaptation/Translation: Richard D. K. Turner

Corestate to Invest €30 Million in New Student Residence in Barcelona

21 October 2019 – Luxembourg-based Corestate Capital Holding will invest thirty million euros in developing a new student residence at Calle Pallars 489, in the city’s technological district, 22@, near then Pompeu Fabra University.

The building, which should be ready by 2022, will have a net leasable area of 4,550 square meters, with 257 flats for a total of 265 students. The new student residence will also have a co-working space, as well as two terraces, a swimming pool and a gym.

The company’s student housing provider, Youniq, will operate the residence. That firm already manages four other student residences in Spain.

Original Story: Eje Prime – Marta Casado Pla

Adaptation/Translation: Richard D. K. Turner

Syllabus and Invesco Developing Nine Student Residences in Spain and Portugal

21 October 2019 – Urbania’s subsidiary Syllabus, which signed an agreement with Invesco at the beginning of the year, currently has projects for nine student residences underway in Spain and Portugal.

In total, the firm’s investments will add 3,000 beds to its portfolio, in addition to the 2,500 it had already planned to build by 2021. The total investment in the nine projects in Spain and Porto is forecast to exceed €150 million.

The company is planning or building two student residences in Madrid and one each in Valencia, Malaga, Pamplona, ​​Seville, Salamanca and Porto in addition to other investments the firm has yet to disclose.

The projects are part of a collaboration agreement Syllabus signed with Invesco at the beginning of the year. The two firms agreed to invest 250 million euros over five years in student residences in Spain.

Original Story: Eje Prime – Marc Vidal Ordeig

Adaptation/Translation: Richard D. K. Turner