Tag: new investments

AQ Acentor Planning Major New Investments in Spain

29 July 2019 – Richard D. K. Turner

AQ Acentor, a developer owned by Aquila Capital, is planning to invest in a €130-150 million project to build between 500 and 600 homes in Málaga. The company is in the process of finalising the acquisition of 50,000 square meters of land.

At the same time, AQ Acentor is looking for land in Seville and Bilbao, with a minimum area of 50,000 square meters. The company also currently has 1,300 homes, in two developments, under construction in Barcelona, one in the Llevant sector of Viladecans (Barcelona) and another in La Marina del Prat Vermell (next to Fira de Barcelona). The developer expects to invest a total of 250 million euros in the project.

Original Story: Eje Prime – Marta Casado Pla

Estrella Galicia Buys Land that Used to House the Comcor Shopping Centre

26 April  2019 – La Opinión

Estrella Galicia announced that it had acquired the two plots of land in front of its brewery in the A Grela business park. The land, which the company bought from Mueble Juvenil SA, measures 18,000 square meters and was home to the Comcor shopping mall until its recent closure. The lands maximum buildable area is 37,800 m2, more than double its current occupation.

The brewer is currently expanding its current factory, adding the adjacent plot of land, which had been home to the A Grela 2 municipal soccer field is located, at the cost of more than 150 million euros. The new facilities are intended to house its packaging and warehousing areas. When construction finishes, Ignacio Rivera, the CEO of Hijos de Rivera, the brewery that produces Estrella Galicia, intends to expand within the European market. The factory’s current capacity of 400 million litres per year is expected to fuel that growth.  The new properties do not have a specific purpose as of yet. Estrella Galicia will hold the land in reserve to boost future growth.

Original Story: La Opinión – Á. Fernández

Translation/Summary: Richard D. Turner

Temprano Capital Partners to Double its Portfolio of Student Residences in Three Years

25 April  2019 – Eje Prime

Temprano Capital Partners, a Spanish investment firm, plans to double its portfolio of student residences, through its subsidiary Temprano Student Living (TSL). The planned investments would increase its portfolio to more than 7,000 beds within three years.

TSL currently has 3,500 beds spread between ten ongoing projects, including those under development and others in operation. TSL’s student residences are located in Lisbon, Porto, Coimbra, Barcelona, ​​Granada, Seville and Valencia.  TSL plans to open two new developments in Barcelona and Porto by the end of 2019, in partnerships with CPA 18 Global and Carey European Student Housing Fund.

The Barcelona residence is located ​​next to the Finistrelles shopping center. The 10,500-m2 asset will consist of 372 studios. The project in Portugal will have 580 studios spread over a 20,000-m2 area.

Original Story: Eje Prime

Translation/Summary: Richard D. Turner

VBARE Secures an Additional €1.5M to Finance New Investments

2 February 2018 – Press Release

The Socimi has signed three mortgage loans to finance its on-going investments in Madrid, as well as in Spain’s main capitals. 

VBARE Iberian Properties Socimi (VBARE) has raised financing for its next round of investments after signing three mortgage loans amounting to almost €1.5 million (€1,491,786.69) in total and secured by some of the company’s assets in Madrid.

The first loan, from Banco de Crédito Cooperativo, dated 29 January, is secured by 15 assets located in different parts of Madrid and amounts to €675,786.69. The other two have been signed with Banco Sabadell and are secured by two other buildings, also located in Madrid, for a combined sum of €816,000.

According to VBARE’s Director General, Fabrizio Agrimi (pictured above), the Socimi finds itself in a time of great investor appetite, “we are analysing several investment opportunities, not only in Madrid but also in the main Spanish cities”.

Achieving an initial net return of at least 4% without leverage and a discount on the acquisition price of 4% over the market value are the criteria that the Socimi has established in its investment strategy for new assets.

VBARE is a real estate investment vehicle specialising in the acquisition and management of residential assets for rental. It operates under the special Socimi regime and has been listed on the MAB since 23 December 2016 (…).

VBARE currently has a portfolio comprising 197 assets. To date, the company has analysed assets worth more than €500 million and is constantly on the lookout for new business opportunities that fit with its investment policy.

Original story: Press Release

Translation: Carmel Drake