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All Market News: Spanish Real Estate Intelligence

Commodus Acquires Spotahome's HQ in Madrid from Persépolis

16 January 2020 - Eje Prime

Commodus has purchased an office building located on Calle Vizcaya, 12 in Madrid from the Socimi Persépolis Investments, in an operation that represents the German investment fund’s first foray into Spain.

The property, located in the Atocha-Méndez Álvaro area of the Spanish capital, has a total surface area of 4,410 m2, spread over 7 floors, 2 basements and 15 parking spaces. It is currently leased in its entirety to the Spanish start-up Spotahome.

Commodus specialises in commercial properties, especially offices, and has delegations in Munich, Berlin, Paris and Madrid. Its property portfolio is worth more than €1.5 billion.

Original story: Eje Prime 

Translation/Summary: Carmel Drake

 
APCE: Residential Development in Barcelona Plummeted by 55% During YTD Sept 2019

16 January 2020 - Eje Prime

House building in Barcelona is on the decline. The obligation, approved recently by Town Hall, to dedicate 30% of land to social housing, has resulted in a 55.3% drop in the construction of new flats during the 9 months to September 2019, according to data compiled by the Association of Property Developers of Cataluña (APCE).

In fact, Cataluña was the only autonomous region where construction fell during the first three quarters of 2019. Across Spain as a whole, the figure rose by 8.7%.

Original story: Eje Prime 

Translation/Summary: Carmel Drake

 
Former Corpfin Director Launches New €30M Real Estate Fund

15 January 2020 - Expansión

Two former rivals, Juan Olivié and Javier Fernández, have joined forces to create a new fund with a clear focus: the purchase of medium-sized plots of land or commercial premises, measuring between 2,000 m2 and 4,000 m2, to convert into single-operator commercial spaces for the restaurant, supermarket or DIY sectors.

Olivié (pictured above, right), Investment Director at Corpfin until now, and Fernández (pictured above, left), a director of the Germany group Ten Brinke, have created Omo Retail, a manager that seeks real estate investments with returns of between 14% and 16%.

They launched their first fund, Omo Retail Invest, in March 2019, with a €30 million investment budget, and have already closed three operations amounting to €7.5 million in total, all located in Madrid.

Original story: Expansión (by Rocío Ruiz)

Translation/Summary: Carmel Drake