Socimi VBare Acquires a Building in Madrid for €5.3M

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

VBare Acquires Residential Building in Central Madrid for €10.5M

4 October 2018 – Eje Prime

VBare is on a roll. The Socimi has purchased a residential property in Madrid for €10.5 million. It is the largest investment made by the company in a single asset to date, according to a statement filed with the Alternative Investment Market (MAB).

The building, located at number 20 Calle Luchana, has a surface area of 3,285 m2. VBare forecasts that the net yield will amount to 4% once the renovation work has been completed and the property has been leased.

The company has subscribed a mortgage loan amounting to €5.25 million, granted by Banca Pueyo. The rest of the purchase price was financed using own funds.

VBare is a real estate investment vehicle specialising in the acquisition and management of residential assets for their rental. The company, which has been listed on the MAB since 23 December 2016, was created in March 2015 and currently owns a portfolio containing 272 assets.

In July, the Socimi made its debut in Málaga with the acquisition of a block of residential assets for €1.35 million. That operation formed part of the company’s growth plan after it carried out a capital increase amounting to €3.2 million in June.

Original story: Eje Prime 

Translation: Carmel Drake