Patrizia Launches €650-Million Fund Targeting Residential Sector in Europe

2 December 2019 – The German fund Patrizia has launched a €650-million, pan-European investment vehicle to invest in the residential sector in Europe’s main cities. The fund also plans to invest more than €1 billion just in 2020.

Patrizia intends to focus on long-term investments, allocating 20% of the capital to the acquisition of alternative residential assets, such as co-living spaces and homes for students and the elderly (though probably not together…).

Original Story: Eje Prime

Adaptation/Translation: Richard D. K. Turner

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

Orinoquia Real Estate to Invest €47.7 Million in Co-Living and Temporary Stay Projects in Spain

30 October 2019 The Venezuelan family Capriles is increasing its bet on the Spanish real estate market, after a major push into the luxury residential market with Gran Roque, its developer. Now, their socimi, Orinoquia Real Estate, will invest more than 47.7 million euros in co-living and temporary stay projects.

The socimi plans to build seven buildings and more than 205 flats. The first two buildings, in Málaga and Valencia, are already under construction. The others will include another in Málaga, two in Seville and one in Madrid.

Original Story: Idealista – Custodio Pareja

Adaptation/Translation: Richard D. K. Turner

Whiteni RCajal Acquires Two Buildings in Madrid for its Co-Living Business

24 October 2019 – The socimi Whiteni RCajal, which is listed on Paris-based stock exchange Euronext, announced that it had acquired two buildings in Madrid. The firm intends to redevelop the properties for use in its co-living business.

Construction is set to begin in the middle of next year and finish by 2022. The building, located on Calle de Fomento and Calle del Rio, have a total surface area of 2,000 m2.  Whiteni RCajal will build and operate fifty flats and studios, in addition to 330 m2 of common areas, with meeting rooms, study and leisure areas.

Original Story: Idealista

Adaptation/Translation: Richard D. K. Turner

Agartha Real Estate Debuts on Euronext Access Priced at €1.5/Share

25 July 2019 – Richard D. K. Turner

The socimi Agartha Real Estate, controlled by Agartha Capital, debuted on the Euronext stock exchange priced at 1.5 euros per share, valuing the company at 28 million euros.

Agartha’s activity involves the acquisition of property assets, primary focusing on the development of co-working and co-living activities. The company currently has three property assets located at calle Piedmont 23, Calle Serrano Anguita 13 and Calle Javier Ferrero 10, in Madrid.

Original Story: Eje Prime