9 January 2019 – La Vanguardia
The Socimi VBare Iberian Properties Socimi has purchased a building comprising 27 homes and 2 commercial premises in Madrid for €5.3 million plus transaction costs.
In order to purchase the property, which is located on Calle Vallehermoso in Madrid, VBare has signed a mortgage loan with Banca Pueyo for €3.43 million, contributing the rest of the purchase price through available cash.
The property is mainly dedicated to residential use and the expected net approximate yield will amount to 4.3% once the refurbishment work has been completed.
The building has a surface area of approximately 1,500 m2 and is the second most significant acquisition carried out to date by VBare in terms of investment volume, after the operation it completed on Calle Luchana in Madrid in October 2018.
Original story: La Vanguardia
Translation: Carmel Drake