11 September 2018 – Expansión
Vivenio, the Socimi owned by the pension fund APG and Renta Corporación, specialising in rental housing, has made its debut purchase of new build homes. To date, the entity has focused on the acquisition of second-hand residential buildings already leased to tenants. In its first turnkey purchase, it has acquired a package of 1,100 homes at various stages of construction for €240 million. The batch includes both private homes and social housing units.
The developments acquired are located in Madrid, Barcelona and Málaga and used to belong to the manager Aquila Capital, headquartered in Hamburg. That firm will continue to undertake the construction work until its completion through its property developer AQ Acentor. The homes are expected to be handed over gradually between now and 2021.
The developments located in Madrid comprise 500 rental homes in total, all of which are social housing properties whose prices will be limited for fifteen years. They are located in four different residential complexes in the district of Villaverde. The agreement also includes the purchase of 400 rental homes in five residential complexes in various locations in Málaga and, finally, 100 homes in Sant Adrià del Besós (Barcelona).
According to sources at the Socimi, this operation “guarantees the vehicle a significant portfolio of products over the medium and long-term, and expands the supply of both private and social housing.
Original story: Expansión (by Marisa Anglés)
Translation: Carmel Drake