28 December 2017 – Inmodiario
Testa Residencial Socimi, S.A., the largest real estate company in Spain specialising in the residential rental market, has acquired 26 new homes in a building located in the Ensanche de Vallecas in Madrid. The homes, most of which have one bedroom, are located in an area of the Spanish capital where the rental market is booming.
In this way, Testa Residencial is continuing to pursue its strategic growth plan, by expanding its portfolio of assets to include 9,245 homes, whereby strengthening its position of leadership in the residential rental market.
Currently, the company’s portfolio of homes has an occupancy rate of 90% and is located in areas with the highest rates of demand, most notably, in the Community of Madrid, San Sebastián and Cataluña, which account for 65%, 5% and 5% of its turnover, respectively.
The company is continuing to consolidate its position as an efficient platform for residential rental properties, which adapts to the needs of its tenants, in line with the largest residential real estate companies in Europe. Moreover, the corporate loan signed recently grants it considerable growth capacity, which will allow it to gain weight and secure its place as a key player in the country.
Original story: Inmodiario
Translation: Carmel Drake