26 September 2017 – Eje Prime
Testa Residencial has acquired a package of 135 homes located in the Community of Madrid from Buildingcenter (which forms part of Caixabank). The package contains 67 homes located in the municipality of Las Rozas, 51 in Getafe and 17 in Madrid capital, all areas where demand for rental housing is booming, according to the company.
“The operation has been completed after Testa Residencial emerged victorious from the competitive process established by Buildingcenter and managed by Servihabitat”, said the company in a statement. The acquisition has been financed with available cash from the company.
In this way, and following the recent operation to integrate a package of homes from Acciona Real Estate, Testa Residencial has now expanded its portfolio of assets to include 9,219 homes, whereby strengthening its position of leadership in the residential rental market.
According to the company, its portfolio of homes currently has an occupancy rate of more than 90% and is located in areas with the highest demand, led by the Community of Madrid, San Sebastián and Cataluña, which account for 65%, 5% and 5% of turnover, respectively.
Original story: Eje Prime
Translation: Carmel Drake