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real-estate-transactions Market News: Spanish Real Estate Intelligence

Elix Vintage Acquires Two Buildings in Madrid
14 October 2019 Elix Vintage, a socimi controlled by the investment firms KKR and Altamar, has acquired two residential buildings, both currently leased, located on the Fomento and Ave María streets in Madrid. Elix Vintage paid 8.425 million euros for the two assets and will invest more in renovations. Original Story: Expansión - Rocío Ruiz/ Marisa Anglés Adaptation/Translation: Richard D. K. Turner
 
Deka Sells Eleven of the Stores it Acquired from Inditex for €105 Million
14 October 2019 The German investment fund Deka has sold eleven of the stores it acquired from Inditex for a total of 105 million euros. The firm stated that the sale was intended to “cover expenses” since the sales price was already 5% higher than Deka had paid for the assets. Although Deka had initially intended to find a single buyer, the firm ended up selling the assets to an array of mainly local investors.  Deka sold assets located in Albacete, Palma, Sevilla, San Sebastián, Ciudad Real, Zamora, Fuengirola and Lisbon. The firm is also finalising the sale of a store in Córdoba. Original Story: Eje Prime - Marc Vidal Ordeig Adaptation/Translation: Richard D. K. Turner
 
Exxacon Acquires Plot of Land from Banco Sabadell in Debut in Valencia
14 October 2019 The Andalusian developer Exxacon has acquired an 18,123-square-meter plot of land in Valencia from Banco Sabadell. The firm will invest a total of €20 million in the new development, which will have 157 100-to-110 m2 flats. The acquisition is the Exxacon’s first in Valencia. Currently, Exxacon has 19 ongoing projects, building a total of 1,200 homes at the cost of 400 million euros. This year, the firm expects to deliver one 23-home development in Malaga city. Next year, the developer will deliver another 130 homes in three different projects. Original Story: Eje Prime - Marta Casado Pla Adaptation/Translation: Richard D. K. Turner