alternative Assets News: Spanish Real Estate Intelligence

Madrid’s Partido Popular Opens Door to  Private Hospital in Torrejón de Ardoz
16 August 2019 A second hospital will be built in Torrejón de Ardoz, a 130,000-inhabitant satellite city of Madrid, after the city’s government, currently dominated by the Partido Popular (PP), approved a proposal by Quirónsalud. The council has offered to rent a 16,000-square-meter plot of land to the firm for 625,000 euros per year, for a sixty year period. The new private hospital will be placed across a roundabout from an existing public hospital, which is managed by a rival firm, Ribera Salud. Quirónsalud had initially planned on building the centre on a private plot of land in Alcalá de Henares. The regional and municipal governments, both controlled by the PP, had to implement ad hoc changes in zoning regulations that, in the end, convinced the company to modify its project and move it to Torrejón de Ardoz. Original Story: El Diário - Sofía Pérez Mendoza Adaptation/Translation: Richard D. K. Turner
Amundi Acquires Co-Working Project from Conren Tramway for €55 Million
25 July 2019 – Richard D. K. Turner Amundi, a major French asset manager, acquired an office building under development at Calle Sancho de Ávila, 65, in Barcelona’s @22. The firm paid Conren Tramway 56 million euros for the building, which is still under construction.  The building, however, has already been fully leased by Wojo, a French co-working firm owned by Accor. The 7-floor building will have 8,300 square meters of surface area, parking facilities, storerooms, changing rooms and a rooftop terrace. Conren Tramway recently signed a leasing agreement whereby the Wojo will take over the property at a rate of  22.3 euros per square meter per month Amundi’s operations in Spain began last year with its acquisition of the Portico building, in Madrid’s Campo de las Naciones, for approximately 130 million euros. Original Story: Expansión - Marisa Anglés  
Investors Seek Returns in Alternative Investments Such as Data Centres and Parking Facilities
25 July 2019 – Richard D. K. Turner Investors are increasingly looking to alternative investments to boost their returns, as segments of the real estate market near maturity. Investments in the sector, which includes co-working and co-living, student residences, data centres and parking facilities, among others, grew by 8.4% in 2018. Large firms have been looking at new uses for existing assets, such as using parking facilities as small-scale, last-mile logistics platforms in large city centres. Data centres have also been a focus of investment activity. Forecasters predict that the need for information storage in Spain is to increase significantly in the coming years. Investors have also taken a closer look at investments in medical centres and geriatric residences, boosted by ageing populations around the globe. In Spain, Azora recently partnered with Banca March and Indosuez Wealth Management to create a healthcare-focused socimi with an investment capacity of 250 million euros. Original Story: Eje Prime - M. C. P.