Dazia Capital Acquires Building in Chamberí for New Luxury Development

8 November 2019 – The Spanish investment firm Dazia Capital has finalised the acquisition of the building located at Calle de Santa Engracia 3, in Madrid where it intends to build nine luxury flats.

Located in one of the capital’s most sought-after neighbourhoods, Chamberí, Dazia Capital will transform the 19th-century building into a luxury residential development. The firm’s €14-million investment will result in nine luxury flats with common areas including a spa, indoor pool, gym and wine cellar. The flats will have up to five bedrooms, some with private pools and large terraces.

Original Story: Expansión – Rocío Ruiz

Adaptation/Translation: Richard D. K. Turner

Terralpa Acquires the General Martínez Campos 19 Luxury Development in Madrid

8 November 2019 – Terralpa, a fund created by Ramón Hermosilla and the Mexican investors Rodrigo Lebois (Unifin) and José Ramón Liñero (Terrafondo), has acquired the General Martínez Campos 19 luxury development for €20 million.

The development, which the British fund Europa Capital (The Rockefeller Group) sold, will consist of 27 flats in a 7-floor building. The homes would have between 120 and 310 square meters of surface area, along with 57 parking spaces and storerooms.

Terralpa is planning to invest a total of 250 million euros within three to five years in the General Martínez Campos 19 development and other works in progress.

Original Story: Eje Prime

Adaptation/Translation: Richard D. K. Turner

TM Real Estate Sells Out Almost All of its Luxury Sidi by TM Development

14 October 2019 The Torrevieja-based company TM Real Estate Group has sold almost all of the 162 properties that make up its Sidi by TM project in Alicante. Sidi, a luxury residential development built on the site of the old Hotel Sidi, on the San Juan beach, is still in the second phase of its construction and work is only expected to resume next week.

TM decided to temporarily halt construction in August to avoid any problems when delivering the keys to the new residents of the first 102 flats completed. The start of the second phase of construction, with another 59 homes, was delayed until March of this year due to a complex approvals process given its beachfront location.

Original Story: Alicante Plaza – Raúl Navarro

Adaptation/Translation: Richard D. K. Turner

Invesco Real Estate Acquires Casa Oller in Barcelona

14 October 2019 Invesco Real Estate has acquired the building at Gran Vía 658, in Barcelona. The real estate investment management company will convert the modernist property, known as Casa Oller, into luxury flats.

The firm intends to build a total of eleven two- to three-bedrooms flats, including a penthouse, with surface areas exceeding 150 m2. The development will include common areas with an outdoor pool, gym and spa. The flats, which will be ready in 2020, are already on sale by Colliers International, with prices starting at €1.5 million.

Original Story: Idealista

Adaptation/Translation: Richard D. K. Turner

Benidorm Grants Approval for Intempo Development

19 July 2019 – Richard D. K. Turner

The Benidorm City Council has approved the modified project for the Intempo high-rise. Its new owner, the Strategic Value Partners (SVP Global) fund, can now finish the development and put the flats up for sale.

While the building’s structure is complete, the common areas and individual flats still require work, especially has construction on the project halted in 2013. The developer forecasts that work on the development will wrap up in 18 months. The building will have 256 luxury flats, with prices running from 250,000 euros up to one million.

Original Story: Alicante Plaza – Alba Mercader

Photo: Rafa Molina

Stoneweg Nears Sale Residential Tower in Tetuán to M&G

July 2019 – Richard D. K. Turner

The Spanish-Swiss investment group Stoneweg is nearing the conclusion of the sale of one of two planned luxury residential towers in Madrid for 125 million euros to M&G Investments. Last year, Stoneweg acquired the land from Dragados, where it plans to build the two 25-floor towers, one with flats for sale and the other for rent. Shortly after, the firm created a partnership with M&G Investments to develop the project.

Construction on the project, known as Skyline, will begin in the second half of this year. Total investment in the development is expected to reach 200 million euros. The towers will have an area of ​​26,390 square meters and include common areas with gyms, gardens and a swimming pool.

Original Story: Idealista