24 October 2019 – The developer Grupo Lar is studying whether to incorporate a new socimi for its rental housing business. The new investment vehicle would have more than €1 billion in assets, including more than 5,000 homes. Yesterday, Grupo Lar announced that it would start work on a project to build 66 rental homes in Valladolid, in an initial investment of nine million euros.
The development is part of the firm’s initial strategic plan to build 500 rental homes. Grupo Lar also has two other projects under development in Parla and Móstoles.
The company is studying the best investment structure for the new vehicle, potentially creating a new socimi.
Original Story: Cinco Días – Alfonso Simón Ruiz
Adaptation/Translation: Richard D. K. Turner