31 January 2019 – Expansión
The property developer of the German fund Aquila Capital has definitively backed Spain. In just five years, the company has made a name for itself in the Spanish property development sector, one of the key markets for the company. Aquila Capital, which is headquartered in Hamburg, was founded in 2001, by Dieter Rentsch and Roman Rosslenbroich. The fund, which also invests in infrastructure, renewable energy and agriculture, launched its property developer AQ Acentor in 2014.
Since we arrived, we have invested €1.4 billion in Spain”, explained the CEO of AQ Acentor, Sven Schoel.
One of the fund’s first projects in Spain was in Villaverde (Madrid), together with the property developer the Inmoglacier Group, to build 1,300 homes, including 400 units for rental use. That project has almost been sold in its entirety, including the rental properties, which were sold to Catella and the Socimi Vivenio. After concluding that project, the alliance between Aquila Capital and Inmoglacier came to an end last summer.
Following that launch, the company has been adding new developments on a piecemeal basis in Cataluña, Málaga, Madrid and Valencia (…).
In total, the company currently has 5,400 homes in various stages of development. The company has 550 homes in an advanced phase, which are going to be handed over during the course of this year.
In addition to residential development, the company owned by Aquila is now preparing its debut in the logistics sector. Specifically, it is finalising the purchase of two plots of land for development in Madrid and Barcelona with a total surface area of 500,000 m2 for around €50 million.
“Logistics is one of the sectors with the most potential; we will begin by developing logistics land, although we do not rule out carrying out turnkey projects for tenants in the future”, added Mr Schoel.
The director also highlighted the company’s commitment to the environment and its support for sustainability (…).
Original story: Expansión (by Rebeca Arroyo)
Translation: Carmel Drake