28 October 2019 – The Belgian student housing operator Xior Student Housing announced that it had reached an agreement to acquire two new student residences in Barcelona, for a total of 41 million euros.
Xior reached an agreement to acquire The Lofttown residence, a 78-room, 140-bed residence in Barcelona. The asset is currently operational and is located near the Paseo de Gracia, a short distance from several universities and the city’s historic centre.
The firm also acquired Collblanc, another student housing development in the same city. The residence will have a minimum of 128 rooms, with several common areas, and will also operate under The Lofttown brand. The project is currently in the licensing stage, with delivery expected in 2021.
Original Story: Idealista
Adaptation/Translation: Richard D. K. Turner
23 January 2019 – Idealista
Sareb is divesting more assets in Cataluña. The company, in which the State owns a 45% stake, has sold a residential building in Hospitalet de Llobregat, in Barcelona, for €2 million. The buyer is a Catalan family office and the operation has been financed by La Caixa.
The building, located in Collblanc, used to be occupied illegally, but has subsequently been renovated and fitted out to house residential homes. The operation has been brokered by Mercat Inmobiliari.
The building has a surface area of 1,800 m2 comprising housing and parking distributed over four above-ground floors plus a basement, ground floor and mezzanine level. In recent months, Mercat Inmobiliari has also closed the sale of two buildings in Palma de Mallorca to the fund Mediterranean Capital for their conversion into holiday homes. Those two assets also used to be owned by the public-private entity (Sareb).
Sareb is finalising several options to get rid of its assets. One possibility includes the creation of a fund with a property developer, to which it would contribute land worth more than €800 million for the development of new build homes.
Moreover, the company is sounding out the market to sign agreements with specialist companies to convert its plots into buildable sites. Sareb owns land in Spain worth €5 billion, but almost half of the plots lack building permission.
Original story: Idealista (by Custodio Pareja)
Translation: Carmel Drake