Aquila Capital & Momentum Reim Join Forces To Build Homes In Barcelona

20 September 2017 – El Mundo

The investment fund Aquila Capital and the property developer Momentum Reim have reached an agreement to jointly develop residential projects in Barcelona. The first investment as a result of this partnership has involved the acquisition of 13,000 m2 of buildable land in an area known as La Catalana, in Sant Adrià de Besòs, for the construction of 120 homes.

This residential project is located 600m from Port Forum beach and one kilometre away from Diagonal Mar, in a very good location thanks to La Ronda and public transport links (Tranvía and Metro).

The future development (www.jardinsdelforum.com) will contain two-, three- and four-bedroom homes, with double orientation for better ventilation and large terraces. The master bedroom in each home will have a dressing room and ensuite bathroom, and there will be a communal area with a solarium and pool on the roof.

Aquila Capital is headquartered in Hamburg and currently manages investments amounting to more than €6,000 million around the world. It is one of the most active institutional investors in the real estate sector in Spain, where it is currently constructing more than 1,500 homes, as well as several hotels, in Madrid and Barcelona, with various local partners.

Meanwhile, Momentum Reim is currently building more than 1,200 homes, worth more than €500 million, from its offices in Madrid, Málaga and Barcelona.

Original story: El Mundo 

Translation: Carmel Drake

US Fund HMC Buys Old Office Building In Madrid From BBVA

13 March 2017 – El Mundo

The US investment fund HMC has acquired one of the real estate jewels that was up for sale in Madrid and which, according to El Mundo, was far from lacking in suitors. The company has purchased the building located on Calles Clara del Rey 26 and Corazón de María 17 from BBVA.

The property has a buildable surface area of 22,507 m2 and is currently a disused office. However, the days of tertiary activity there are numbered given that the new owner is going to develop an attractive residential project in one of the areas in the capital where no new build homes have come onto the market for years.

The planned investment for the Clara del Rey 26 project amounts to €60 million and the project will comprise one- to four-bedroom homes with common areas including a swimming pool, gym, children’s playground, multi-use rooms, amongst others. The marketing process will begin in a few weeks, although given the high demand that has already been received, a list of interested parties has been opened online at: www.claradelrey26.com.

The operation has been advised by the law firm Eversheds Nicea on the buy side and the sales process has been managed by the real estate consultancy firm JLL.

The operation forms part of HMC’s investment strategy in Spain, focusing on residential projects, in collaboration with its local partner Momentum Reim. Clara del Rey 26 is the latest in a group of projects that both companies are already developing in Madrid and Alcobendas: Aravaca Garden, Encinar Garden and Juncal Garden. In Málaga capital, they are also working on Teatinos Sky Garden and El Limonar.

Original story: El Mundo

Translation: Carmel Drake

HMC & Momentum REIM Buy Plot Of Residential Land In Málaga

14 December 2016 – Real Estate Press

HMC and Momentum REIM are redoubling their commitment to Málaga with the acquisition of a plot of land measuring 16,163 m2 in the Teatinos neighbourhood, Málaga, where it plans to construct 340 homes (known as the Teatinos Sky Garden development)

With this new investment, the firms will have 57,000 m2 of roofs under development within 6 months, making them one of the main residential investors in the city.

The alliance formed between the institutional investor HMC, which has more than €4,400 million under management, and the property developer Momentum REIM, is currently constructing six primary home residential developments in Spain, in which they are investing more than €231 million. The developments currently under construction are located in the most sought-after areas of Madrid and Málaga capital, focusing on middle-upper class families and are characterised by a differential value in terms of design, common area facilities, customisation and customer focus.

In 2017, Momentum REIM plans to expand its investments to other cities in Spain and to double its current investment volume during the course of the year. The outlook for the residential market in Spain is still positive, given the structural demand for housing, although in general terms, significant price increases are not expected.

Original story: Real Estate Press

Translation: Carmel Drake