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Vivenio Finalises Purchase of 5 Assets in Madrid for €130M

2 March 2018 – Eje Prime

Renta is pampering the Socimi that it owns jointly with APG. The Socimi Vivenio currently has committed investments worth €130 million in five residential assets in Madrid and is expecting to increase its investments to €250 million in the short term, according to explanations provided by sources at the company. Its objective for the next five years is to reach an investment volume of €1.5 billion.

Although, for the time being, the company does not want to disclose the specific location of its latest assets, they may be located on the outskirts of the Spanish capital, which is where all of the properties that Renta’s Socimi has purchased in recent months are situated.

Last week, Vivenio announced an investment of €13.5 million to purchase more than 100 residential homes in a development by the Suquía Group. The Catalan manager reached an agreement with the Guizpuzcoan property developer, which has been immersed in bankruptcy proceedings since 2015 (…).

Those purchases are in addition to the acquisition plan that Vivenio has underway. The Socimi plans to invest in assets worth €1.5 billion in Madrid and Barcelona, primarily, with a minimum investment ticket per operation of €10 million.

Originally known as Rembrandt, Vivenio has already invested almost €100 million in the purchase of 1,152 homes, exclusively in Madrid and the surrounding area. For the time being, the company, which also plans to undertake operations in Barcelona, has not entered the Catalan capital.

Before the end of 2017, Vivenio purchased three residential buildings in the Madrilenian towns of Alcorcón and Campo Real, comprising 166 apartments in total. The assets acquired are distributed across one building in Alcorcón, comprising 139 homes, and two others in Campo Real, with 27 homes, as well as 173 parking spaces and 141 storerooms.

In addition, Renta Corporación and APG are going to debut their Socimi on the stock market in 2019. The company has already made itself known in the real estate market by hiring Borja Lamana, formerly of Santander and Azora, who it appointed as the Head of Asset Management in January.

Original story: Eje Prime (by C. Pareja)

Translation: Carmel Drake