8/01/2015 – Inmodiario
Spanish rental property company Companía Española de Viviendas en Alquiler S. A., abbreviated to Cevasa, has sold a real estate complex called Santa María de Cabeza, Madrid, to AKM Arganzuela for 35 million euros. The deal included 214 dwelling, 31 retail units and their corresponding parking spaces.
As a result of the sale, Cevasa is going to close the year 2014 with an extraordinary profit of 23 million, once the sold assets’ book value (€8.1 million), as well as taxes and transfer cost deducted.
Besides, Cevasa has purchased a 20% share in Sociedad SBD Lloguer Social, S. A. from Habitatges Municipals de Sabadell, S. A. (VIMUSA). Currently, Cevasa’s share adds up to 80%, demonstrating the company’s commitment to cooperation with the Local Administration on development of properties intended for long-term rents at affordable prices.
Picture: One of Cevasa’s housing developments, www.cevasa.com
Original story: Inmodiario (by the Staff)
Translation: AURA REE