Losantos Invests €50M to Become the King of the Last Mile

12 November 2018 – Expansión

The real estate group, Allegra, chaired by Mario Losantos, has acquired several plots in recent months on the outskirts of Madrid to develop projects relating to the logistics sector and to increase its commitment to e-commerce in Spain. These operations will allow it to have a very active role in the business known as “the last mile”, the critical part of the distribution of products purchased online, which involves transporting them from the final warehouse to customers’ homes.

Before the summer, the group acquired a logistics park in the town of Villaverde, to the south of Madrid, which was leased to the group On Time Logistics last week. The plot, measuring 30,000 m2, contains a warehouse measuring 17,000 m2 and a cross-docking platform measuring 8,000 m2.

Moreover, the group has closed the purchase of two plots of land in the north of Madrid, very close to the facilities of Amazon, the largest online operator in the world. Both plots have a buildability of 40,000 m2 and have involved an investment of €30 million.

The three operations undertaken in Madrid will take the total investment figure to more than €50 million, once all of the platforms have been constructed. The Spanish group started to invest in logistics centres a while ago in the USA and the UK. In recent weeks, the group has purchased a new platform measuring 89,000 m2 in Hampton (Virginia) to continue with its international expansion. That park is leased to the urgent parcel operator Fedex. Sources close to the group indicate that over the coming weeks, the firm may acquire another platform in Chicago, which is also operated by Fedex.

In the United Kingdom, Allegra has recently purchased two platforms in the cities of Telford and Durham, bringing its investment in the British logistics sector in recent years to €30 million.

The Spanish company, whose portfolio of real estate assets amounts to around €1 billion, has invested €250 million in the logistics sector. The group also owns commercial premises and residential buildings in the United States, Australia, New Zealand and Portugal, amongst other countries.

Original story: Expansión (by Amparo Polo)

Translation: Carmel Drake

Allegra & ACR Invest €130M To Construct 600+ Homes

27 September 2017 – Expansión

The construction and real estate group ACR and its partner Allegra Holding, the investment arm of the Losantos family (former owners of Riofisa) have expanded their alliance in the Spanish real estate sector, with three new operations.

The partners have recently acquired three new plots of land, one in Madrid and the other two in Pamplona, with a combined surface area of 45,000 m2. In the case of the first, the plot of land is located in Vallecas, measuring 10,000 m2, where they plan to build 100 private homes, with an estimated investment of around €19 million.

In the case of Pamplona, it represents the first operation outside of the Community of Madrid. Specifically, ACR and Allegra have acquired two plots of land in the El Ensanche area, where they plan to construct between 120 and 140 2-, 3- and 4-bedroom homes.

These latest operations follow others undertaken just a few months ago, when the joint venture between ACR and the firm led by Mario Losantos invested more than €29 million in land, also in Madrid, specifically, in the El Cañaveral district.

In total, both companies have invested €130 million to build more than 600 homes, under the brand Nature. “It is a successful alliance that is continuing to make progress and it demonstrates the strong performance of both companies in the market, which is allowing us to continue evaluating new investment alternatives in Madrid, but also in other locations such as Barcelona, Málaga and Levante”, explains David Botín, Director General of Real Estate Development at ACR Grupo.

After years focusing on international real estate markets such as London and New York, the family office led by Mario Losantos returned to Spain three years ago, to invest in plots of land for residential use and to build homes on them. In its first operation, in February 2014, and in partnership with ACR Grupo, they invested around €19 million in the construction of 96 homes on a plot in the north of Madrid. A year later, they started work on 42 exclusive homes in the Puerta de Hierro area.

Beyond the residential segment, Allegra has also invested in office buildings, logistics platforms, as well as commercial premises in Castellana.

Original story: Expansión (by Rocío Ruiz)

Translation: Carmel Drake

ACR Collaborates In Residential Projects With Mario Losantos

14 May 2015 – Expansión

With a history spanning more than four decades, the Navarran company ACR doubled its turnover last year through the sale of high-end housing at reduced prices. The key to ACR’s (business) model is the purchase of land, namely foreclosed plots from banks, Sareb or public administrations, at affordable prices. “We look for a lot of land and we design the appropriate product. House prices have a limit at the moment, which varies by area and development, and therefore, the price we pay for land also has a limit”, explains Francisco Santiago, CEO of ACR.

The Navarran company is currently promoting 700 homes across developments in Madrid, Barcelona, País Vasco and Navarra.

They include two projects known as “Nature”, which ACR is undertaking together with Allegra Hólding, a company founded by Mario Losantos, following the sale of Colonial. “We have a very strong and frank collaboration with our partner. We are enjoying a lot of success with our developments in Plaza Castilla and Puerta de Hierro (both in Madrid) and there will soon be a third “Nature” development”, says Francisco Santiago.

ACR generated turnover of €91 million in 2014, compared with €77 million in the previous year. “We expect to increase (turnover) by 40% this year but that will depend on the delivery rate of our (housing) developments”, he says. “The first homes that we will hand over will be 176 apartments in Bilbao, during the final quarter. We also want to launch other new developments in 2016, whereby taking advantage of the opportunities that exist in the market”, says the CEO.

In order to achieve this objective, ACR will have to face the wrath that exists between large funds and managing agents for central plots of land in Madrid, which has resulted in an increase in land prices in many cases. “When there is fierce competition for a plot of land, we do not participate”.

In addition to its (property) promotion business, ACR is also active in the areas of construction and refurbishment. “The construction business accounts for 65% of our global turnover, including our projects in France and Colombia, and refurbishments represent 15%, but that is a sector that is growing significantly”.

Original story: Expansión (by R. Ruiz)

Translation: Carmel Drake