• Transaction / Assets
    AP67 Acquires Four Plots of Land in Madrid
  • Seller
    n/a
  • Buyer
    AP67
  • € MM
    4.6

AP67 Acquires Four Plots of Land in Madrid for €4.6 Million

9 October 2018

The socimi, which is listed on the MAB, is expanding its portfolio of assets in the area of Leganés, where it focuses most of its operations. The lands the socimi acquired have several possible uses, including industrial, commercial, offices and residential.

AP67 is continuing to pursue its strategy of investing in a good-sized portfolio of assets in Leganés. The socimi, which went public in May, just acquired four plots of land in the southern city of Leganés, part of greater Madrid. The total investment reached 4.6 million euros, according to the company’s announcement to the Mercado Alternativo Bursátil (MAB).

With this operation, the real estate manager, controlled by the architects Álvaro Rubio and Francisco Escudero, founders of the Akydeko studio, has added a variety of types of assets to its portfolio. In total, the plots of land have an area of ​​more than 8,500 square meters.

The largest plot of land is located at 7 Calle Rey Pastor de Leganés, where AP67 acquired a 4,899 square-meter plot of industrial land for 625,000 euros. In the Sector Partial Plan 4 of Leganés, the socimi paid 2.6 million euros for a 3,360-square-meter plot of land for commercial and office use.

Finally, on 40 and 48 Calle Juan Muñoz, Rubio and Escudero’s firm acquired two small plots measuring 400 square meters and 39 square meters, respectively. The socimi paid 1.3 million euros for the two.

The purchases were made with equity and a mortgage loan signed with Banca Pueyo for 1.34 million euros. “With these acquisitions, the company continues to meet its investment objectives and expand its portfolio of assets,” the socimi announced. AP67, which debuted on the MAB valued at 34 million euros, aims to double the number of assets it currently has in the next few years.

Original Story: EjePrime

Translation: Richard Turner

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