Tag: Inbisa

Spain’s Property Developers Accelerate Their Land Purchases

31 August 2017 – Expansión

Spain’s large real estate companies have launched ambitious investments plans with the aim of starting to build thousands of homes over the next few years, whereby benefitting from the upwards cycle that the housing market is currently enjoying.

The most active players include some of the new property developers led by investment funds such as Neinor Homes, Vía Célere and Aelca. These companies, the first of which is listed on the stock market and the latter two which have plans to make their stock market debuts within the next few months, have accelerated their land purchase plans in recent months, backed financially by their owner-shareholders and loans from the banks.

Such is the case of Neinor Homes. The property developer owned by Lone Star has invested €157.5 million so far in 2017 on the acquisition of various plots of land spread across locations such as Valencia, Málaga and Madrid. These purchases will allow it to build 1,750 homes, in addition to the around 4,000 units that it already has underway.

In the case of Vía Célere, acquired in February by Värde and five other funds, its land purchases so far in 2017 amount to €100 million, which has allowed it to increase its portfolio of land by 212,016 m2 to 2.7 million m2.

Another one of the companies that has invested a lot in land in recent months in Aelca. The company led by Värde and its founding partners, Javier Gómez and José Juan Martín, has spent €170 million so far in 2017 to increase its buildable portfolio by 362,000 m2. Following these purchases, it plans to build around 3,900 homes.

New leader

But the leader of this growth is Metrovacesa. The property developer led by Jorge Pérez de Leza has started a new phase this year, following the transfer of its rental assets to Merlin, with the ultimate aim of recovering its leading position in the sector, this time, focusing on the residential market. To this end, its main shareholders, Banco Santander and BBVA, have transferred it land worth €1,108 million, covering a buildable surface area of 3.1 million m2.

Metrovacesa’s plans for these plots, which have capacity for 24,000 homes, include the sale of some of the asset to competitors, which are eager to expand their portfolios. Currently, the property developer owned by Santander and BBVA is the second largest landowner in the country, with land spanning 6 million m2, exceeded only by Sareb.

Meanwhile, the ACR group (which has invested in some projects together with Allegra, the investment arm of Mario Losantos, the former owner of Riofisa) has purchased land worth €43 million, with a buildable surface area of 88,000 m2, where it plans to build 810 homes. (…).

Amenabar has a similar investment policy. The Basque real estate company, the current leader house building ranking in Spain, with more than 4,000 units underway, has acquired land covering more than 352,000 m2 this year, which will allow it to build another 2,976 homes. (…).

Another of the classic property developers, Quabit, has undertaken 13 operations involving buildable land in just two months, allowing it to incorporate almost 120,000 m2 into its portfolio. (…) The listed company will build 1,097 homes with a forecast revenue of €196 million.

Meanwhile, the Inbisa group has invested more than €80 million in the residential market over the last 18 months and plans to spend another €30 million before the end of the year.

Another fund that has made a significant commitment to the housing market in Spain in ASG. That firm, which also invests in commercial properties, has spent €200 million this year on the acquisition of 16 urban plots of land.

Original story: Expansión (by Rocío Ruiz)

Translation: Carmel Drake

Inbisa Sells 27,000 sqm Logistics Platform To Primafrío

29 September 2016 – Mis Naves

“The ability of Inbisa and the Asua Real Estate Group to offer our clients the best options in terms of location and facilities, adapting ourselves to the needs and requirements in each case, is the key factor that enable transactions of this kind to go ahead”, said sources at the company.

Inbisa, through the Asua Real Estate Group, has sold the “Inbisa San Román Logistics Platform”, located at km 385 on the N-1 highway, 25km from Vitoria and 95km from the border with France, to the international transport company Primafrío.

The logistics platform has a surface area measuring more than 27,000 sqm, as well as more than 5,200 sqm of constructed space, split between a warehouse (covering 4,000 sqm in terms of floor space) with 20 loading bays and 10m free height inside and offices ( measuring 375 sqm). Moreover, the site has another independent building (measuring 903 sqm), which is used for fleet services, as well as workshops for maintenance and a car wash for trucks.

According to sources at Inbisa, “Primafrío, which will open one of its largest operating headquarters in Spain at the “Inbisa San Román Logistics Platform”, has chosen these facilities thanks to their strategic location, along one of the country’s main logistics corridors, which links Madrid with France and the rest of Europe. Similarly, the characteristics of the logistics platform are perfectly suited to the requirements of the transport company, as it offers all of the infrastructure necessary for it to undertake its business and logistics activity”.

Original story: Mis Naves

Translation: Carmel Drake

Inbisa To Renovate Alta Diagonal Building In Barcelona

28 July 2016 – Mis Oficinas

Inbisa, through its construction company BYCO, has been awarded the tender to renovate the urbanisation of the Alta Diagonal building, located on Avenida Diagonal in Barcelona. This office complex belongs to Deka Immobilien, a German investment fund, whose history spans more than 40 years, specialising in real estate assets, managing 293 properties in 23 countries.

This renovation, which will be performed on a surface area covering 2,000 sqm, completes a series of improvements and refurbishments that Deka Immobilien has performed on the building and its surrounding area, with the aim of strengthening its position in the prime office market in Barcelona. To that end, it is going to renovate the quality of the materials in the property, to bring the urbanisation into line with the rest of the complex.

“The construction work is going to be carried out within a short timeframe of 2 months, taking advantage of a quiet period for the property. The work will cover a surface area of 2,000 sqm, whereby completing the renovation work already carried out at the entrances and on the façade, as well as in the private and public urbanisation to the rear, in Avenida Sarrià”, said the Heads of Inbisa.

Original story: Mis Oficinas

Translation: Carmel Drake

Rockspring’s New Logistics Platform In Getafe Ready By YE

1 August 2016 – Mis Naves

Construction of the logistics platform that Inbisa is building for the UK fund Rockspring in Getafe is progressing nicely, and all indications are that it will be completed by the end of 2016 or beginning of 2017, just nine months after the first stone was laid at the site.

In fact, as at July 2016, just four months after construction began, almost 50% of the structure has been built, and the workmen have now started to construct the platform’s walls and roof.

Located in the Puerta Mayor “Los Gavilanes” business and logistics park in Madrid, the new platform will cover an area equivalent to eight football pitches, with a total constructed surface area of 58,000 sqm, on a plot measuring 88,000 sqm. The platform may be split into eight modules measuring more than 7,000 sqm each.

Both Rockspring and ProEquity, the real estate consultancy responsible for the exclusive marketing of this project, are excited about the new platform, which is particularly suitable for major retailers and e-commerce specialists that need to base their logistics operations close to Spain’s capital city.

In this sense, the logistics park in Getafe is located at the junction of the A-4 Madrid-Andalucía motorway and the M-50 ring-road, 27 km from Barajas airport and 20km from the centre of Madrid.

The platform will be equipped with the highest quality standards, a certificate of sustainable construction and complete facilities with a dock ratio of 1/860m2, which means 64 docks, concrete structure and walls, wide handling bays measuring more than 35m, an interior height of 12m and LED lighting, amongst other state-of-the-art features.

Original story: Mis Naves

Translation: Carmel Drake