Tag: new investments

Neinor Homes Looks to Invest €90 Million in 2020

3 January 2020 – The real estate developer Neinor Homes needs to invest 90 million euros next year to achieve its stated investment goals, which the firm had already reduced in April. The firm has a target of €100 million for 2019-2020 and only investment 10 million euros in two plots of land in the Basque Country last year.

Juan Velayos’s exit last year hit the developer’s stock price and caused aftershocks that affected the rest of Spain’s developers as well.  The firm’s stock fell by 16.68% and has since struggled to reach new highs.

Neinor currently has sufficient land holdings to build approximately 12,500 homes. The land is in the Basque Country (2,500), Catalonia (2,100), Levante (1,300), Andalusia (4,400) and Centro (2,700).

The firm’s principal development is in Alcobendas (Madrid). Aura Homes is currently building 254 2-4-bedroom homes in a large gated residential community.

En español

La promotora inmobiliaria Neinor Homes necesita invertir 90 millones de euros el próximo año para alcanzar sus objetivos de inversión, que la empresa ya había reducido en abril. La firma tiene un objetivo de investir 100 millones de euros en 2019-2020, pero solo invirtió 10 millones de euros en dos terrenos en el País Vasco el año pasado.

La salida de Juan Velayos el año pasado provocó una fuerte caída en el precio de las acciones de la promotora y afectó también al resto de los desarrolladores de España. Las acciones de la empresa cayeron un 16,68% y desde entonces han luchados por alcanzar nuevos máximos.

Neinor actualmente tiene suficientes terrenos para construir aproximadamente 12,500 viviendas. Los terrenos se encuentran en el País Vasco (2.500), Cataluña (2.100), Levante (1.300), Andalucía (4.400) y el Centro (2.700).

El proyecto principal de Neinor se encuentra en Alcobendas (Madrid), donde Aura Homes está construyendo 254 viviendas de 2 a 4 dormitorios en una gran comunidad residencial cerrada.

Original Story: Merca2 – Javier Rosell

Translation/Summary: Richard D. Turner

XPO Logistics to Invest in Last Mile Logistics in Spain

16 December 2019 – The logistics company XPO Logistics is looking to double its logistics investments in Madrid, Barcelona and Valencia by 2020, targeting last-mile logistics in particular.

In consequence, XPO announced that it would build a new last-mile logistics platform in the Metropolitan Area of ​​Barcelona, ​​in the municipality of Castellbisbal, 30 kilometres from the city. The 13,000-m2 warehouse is in addition to another, 27,000-m2 facility the firm already has in the city.

The firm will build the new facility on a 37,000-k2 plot of land. The new development will have two buildings, 435 m2 and 913 m2, respectively.

Original Story: Eje Prime – Marta Tamayo

Adaptation/Translation: Richard D. K. Turner

Urbas to Allocate Land to Residential Build-to-Rent Sector

16 December 2019 –

The Urbas real estate group is planning a series of new investments in the residential rental housing market. The firm is considering using some of its 18-million-square-meter portfolio of land for build-to-rent developments.

The firm is currently analysing potential opportunities, including participation in the Ministry of Development’s State Housing Plan 2018-2021, which was designed to stimulate the rental housing sector.

Original Story: Eje Prime

Adaptation/Translation: Richard D. K. Turner

The Polanco Family to Structure New Socimi to Invest in Rental Properties

11 December 2019 – Qualitas Equity Partners, the Polanco family’s asset management firm, will begin investing in the acquisition and rental of residential properties through a new socimi.

Home Capital Rentals Socimi, which a subsidiary of Qualitas, Q-Prime, will look to develop and acquire urban real estate for use in the rental market. The socimi intends to focus on the prime and semi-prime residential market in Spain’s main cities.

Borja Pérez Arauna, a former director of Prisa, founding partner of Q-Prime and the vice president of the Timón Group, will lead the new firm.

Original Story: El Diário – Antonio M. Vélez

Adaptation/Translation: Richard D. K. Turner

Patrizia Looks to Invest Up to €500 Million in Spain and Portugal

2 December 2019 – The German investment fund Patrizia plans to invest up to 500 million euros in the Spanish and Portuguese real estate markets over the coming years. The fund currently intends to divide its investments between offices (40%), residences (40%) and logistics (20%) though the relative weight of each sector could vary. The firm is first looking to enter the market for student housing in 2020, either by building new facilities or acquiring in and will enter the market for student residences in 2020. Regardless, the firm would lease the facilities to outside operators.

Original Story: Eje Prime – Marc Vidal Ordeig

Adaptation/Translation: Richard D. K. Turner

Áurea Homes to Invest €500 Million to Build a Total of 2,700 Homes in Spain

8 November 2019 – Áurea Homes stated that it is committing to investments of 500 million euros to develop 30 new projects with a total of 2,700 homes. In each case, the firm will provide 15% of the project’s total need for investment, while looking for investors to contribute the remaining 85% in each case.

Half of Áurea Homes’ developments are in the Community of Madrid, while the rest are in Navarra (approximately 400 homes under construction), Castilla y León, (270 homes), the Basque Country and the province of Seville (200 homes each) and Catalonia (120 homes).

Original Story: Eje Prime – Marc Vidal Ordeig

Adaptation/Translation: Richard D. K. Turner

Quabit Invests in New Sectors in Preparation for a Change in the Market Cycle

24 October 2019 – Félix Abánades, the head of Quabit Inmobiliaria, has been preparing his firm for a new cycle in the real estate market. The firm recently began investing in the residential rental market, acquired a construction company (Rayet Construcción), placed a portfolio of 1,300 homes currently under construction on sale and announced that it would invest in the cooperative management sector. In the latter, the firm is looking to develop a portfolio of approximately 1,000-1,500 homes, within two or three years, with a turnover of around 175 million euros, through its Style Cooperatives initiative.

Quabit’s entry into the cooperative management market comes at a time when the sector is suddenly back in vogue. Cooperatives are typically able to offer higher prices for developable land than comparable developers.  The firm is adding the new line of business to its existing operations in land and residential development, along with its foray into the rental housing market.

Increasing construction costs and the possibility of a change in the market cycle are leading Quabit and other developers to reduce their earnings forecasts along with estimates of the number of homes it will deliver in the coming years.

Original Story: El Confidencial – Elena Sanz

Adaptation/Translation: Richard D. K. Turner

Azora and Palladium Create Joint Venture to Operate Luxury Hotel son the Mediterranean

9 September 2019

Azora, a Spanish real estate fund manager, announced the creation of a new joint venture with the Palladium Group, which is owned by the Matutes family. Azora will control 75% of the new firm, with the rest going to Palladium. The firm will invest in luxury hotels on the Mediterranean coast.

The company will begin with an initial investment of €225 million, including three existing assets. Those consist of two hotels in Ibiza and one in Cefalù, in northern Sicily (Italy). The first is the BLESS Hotel Ibiza, a 151-room, five-star hotel owned by Palladium. The group recently converted the hotel from a 3-star unit.  The second asset is the Fiesta Hotel Tanit, a 440-room, 3-star hotel which the firm will also convert into an all-inclusive, adults-only luxury hotel.

The hotel in Italy is the 529-room, 4-star Fiesta Sicilia Resort, which like the first two,  the firm will convert into a 5-star unit.

Azora and Palladium have committed to investments of up to 500 million euros.

Original Story: El País

Adaptation/Translation: Richard D. K. Turner

Developers Eye More Than €30 Billion in New Business in Madrid

21 August 2019

Developers are eyeing huge new possible investments they expect to build approximately 130,000 new homes over the next 25 years. That is in addition to major new investments in offices, retail spaces and industrial buildings. The sale of homes and other properties is expected to exceed €30 billion.

Developers are planning two new centres of investment in the north and southeast of the capital. The developments include Operation Chamartín (since renamed Madrid Nuevo Norte) and five new neighbourhoods to the southeast: Los Berrocales, Valdecarros, Los Cerros, Los Ahijones and El Cañaveral.

Operation Chamartín was finally approved last month by the municipal assembly, after a 26-year hiatus. A report by the city council forecasts that total sales of homes, offices and commercial areas will reach €13.198 billion, €10.2 billion of which will come from offices and retail areas. 10,500 homes will also be built in the area surrounding the Chamartín train station, 24% of which will have subsidies.

A development with a total of 118,737 homes is also planned for the city’s southeast. Sales for this area are expected to reach more than €20 billion over 25 years with profit margins reaching 20%. El Cañaveral, where construction has already begun, will see total investments of €3 billion. Next will be Los Berrocales and then Los Ahijones by 2021. Lastly, work will begin on Los Cerros and Valdecarros, with plans for more than 50,000 homes, the first of which will be ready in a decade. The owners of these developments, excluding El Cañaveral, calculate investments exceeding €13 billion, generating 965,000 direct and indirect jobs over the next few years.

Original Story: Cinco Días – Alfonso Simón Ruiz

Adaptation/Translation: Richard D. K. Turner

CVC and Portobello to Invest €141 Million in Vitalia

20 August 2019

CVC and Portobello are planning to invest €141 million over the next four years in Vitalia, a firm that builds and manages geriatric centres. The firm plans on building a portfolio of 10,000 beds, becoming the second-largest operator in Spain, behind Sarquavitae (owned by DomusVi).

Vitalia will build 19 new residences in Madrid, Catalonia, Castilla y León, the Valencian Community and Murcia. The investments will add another 3,175 residential beds and 536 daycare places to the Vitalia’s existing portfolio.

Original Story: Eje Prime

Adaptation/Translation: Richard D. K. Turner