21 April 2017 – Eje Prime
Aedas Homes is facing a new phase of growth. The company, the successor of Vallehermoso, has just completed a capital increase amounting to €31.5 million, and it plans to use the funds to finance the construction of around 50 developments between now and 2018. The group, created by the fund Castlelake and advised by Merlin Properties, was created with the aim of building 12,000 homes on land that the firm has been acquiring since 2013, around 1.35 million m2.
According to the Mercantile Registry, the company Aedas Homes Group has completed a capital injection amounting to €31.4 million. This is the first capital injection received by the company, which until now had a share capital of €3,000. The firm specialises in residential developments in the medium-high end segment of the market.
The group constructs its own developments only and does not render any services to third parties. “We differentiate ourselves from our competitors because we build developments in areas with solvent and sustainable demand”, explains David Martínez (pictured above), CEO of the group. Currently, Aedas Homes has its focus placed on Madrid, Barcelona, Alicante, Valencia, Mallorca, Sevilla and Málaga, where it already has developments underway.
“80% of the land in our portfolio is buildable, whilst the rest is pending urbanisation”, adds Martínez. Moreover, we are constantly buying land, although now the volume that we have is sufficient to be able to carry out our plans in the short term”.
Last month, Aedas Homes, which competes directly with Neinor Homes, Aelca and Vía Célere, started to advertise its first fourteen developments; and the group plans to add another fifteen developments to its portfolio soon. “We would like to end this year having marketed around thirty developments, which is equivalent to 1,500 homes”, added sources at the group. (…).
The company is led by David Martínez, who has extensive experience in the real estate sector. After holding positions of responsibility at groups such as Ferrovial and Bovis Lend Lease in the 1990s, Martínez went on to lead projects such as Valdebebas and to serve as the CEO of Distrito Castellana Norte.
Original story: Eje Prime (by C. Pareja)
Translation: Carmel Drake