• Transaction / Assets
    c/Joaquín Costa, 57 (Barcelona)
  • Seller
  • Buyer
  • € MM

Barcino Purchases a Mixed-Use Property in Barcelona for €2.8M

7 October 2018 – Eje Prime

Barcino is fattening up its portfolio of residential assets. The Socimi has acquired a residential property in Barcelona for €2.8 million, according to a statement filed with the Alternative Investment Market (MAB). The operation has been financed using a capital increase amounting to more than €9.7 million, which the company undertook at the beginning of September.

Barcino has purchased the property at number 57 Calle Joaquín Costa, in the Raval neighbourhood of the Catalan capital. The building comprises nine homes and two commercial premises in total. The current occupancy ratio of the asset amounts to 45%.

Barcino, which made its debut on the stock market at the end of 2017, defines itself as a company whose main activity involves the “acquisition and renovation of urban assets for their rental”. The company invests primarily in central locations in the metropolitan area of Barcelona and is controlled (50%) by the Dutch fund Barcino Management.

One of the Socimi’s most recent operations, completed in the month of September, was the acquisition of two residential buildings in Barcelona for €3.9 million in total: one of the properties comprises fourteen homes and one commercial premise in the Poble Sec neighbourhood, whilst the other comprises twelve homes and is located in the heart of the Raval neighbourhood.

Original story: Eje Prime

Translation: Carmel Drake