Transaction / AssetsStudent residence in A Coruña SellerLas Inmaculadas BuyerASG Homes Propcorp € MM7.7
ASG Homes Acquires Former Student Residence in A Coruña
17 September 2019 – La Opinión A Coruña
The sale has been completed of a former student residence in A Coruña. The congregation of the religious order of María Inmaculada has sold the property, which spans 6,000 m2 and comprises 6 or 7 storeys (depending on where you are in the building), to the real estate firm ASG Homes Propcorp for €7.7 million.
ASG Homes Propcorp is owned by several European investors, namely: East Hampton Partners Limited (40%), headquartered in London; Fido Holding GMBH (10%), headquartered in Berlin (Germany), Caveco Investments (40%), headquartered in Madrid, and Gotrina (10%), also based in Madrid.
The group is in the process of investing the resources that it raised for its sixth fund, which amounted to €500 million in total, and the focus of its investments is now directed towards Valladolid, Zaragoza, Bilbao, Portugal… and A Coruña.
The international group specialises in the construction of residential complexes, and also promotes hotels, shopping centres and gas stations.
The property is currently divided into two halves, with the right-hand side forming the subject of the sale by the religious order; the left-hand side, which comprises commercial premises on the ground floor, offices on the second floor and private apartments on the upper floors, does not form part of the sale.
Original story: La Opinión A Coruña (by Marta Villar)
Translated by: Aura Ree