Mazabi to Invest €40 Million in New Co-Living Development in Madrid

8 November 2019 – The Spanish asset management Mazabi intends to invest a total of €40 million in converting the properties located at Calle de los Madrazo, 6, 8 and 10 into 25 luxury co-living flats with a total of between 60 and 80 rooms.

Mazabi is currently negotiating with potential partners to operate the development. The firm is looking to focus on three-to-twelve month rental contracts, with the development opening in the second half of 2020.

The building, which the firm acquired three years ago, has 8,000 square meters of surface area for flats, with another 2,300 m2 for stores. Of the latter, Mazabi is looking to create a flexible workspace, stores and restaurants.

Original Story: Eje Prime – Marc Vidal Ordeig

Adaptation/Translation: Richard D. K. Turner

45