Tag: Poble Sec

Barcino Purchases a Mixed-Use Property in Barcelona for €2.8M

7 October 2018 – Eje Prime

Barcino is fattening up its portfolio of residential assets. The Socimi has acquired a residential property in Barcelona for €2.8 million, according to a statement filed with the Alternative Investment Market (MAB). The operation has been financed using a capital increase amounting to more than €9.7 million, which the company undertook at the beginning of September.

Barcino has purchased the property at number 57 Calle Joaquín Costa, in the Raval neighbourhood of the Catalan capital. The building comprises nine homes and two commercial premises in total. The current occupancy ratio of the asset amounts to 45%.

Barcino, which made its debut on the stock market at the end of 2017, defines itself as a company whose main activity involves the “acquisition and renovation of urban assets for their rental”. The company invests primarily in central locations in the metropolitan area of Barcelona and is controlled (50%) by the Dutch fund Barcino Management.

One of the Socimi’s most recent operations, completed in the month of September, was the acquisition of two residential buildings in Barcelona for €3.9 million in total: one of the properties comprises fourteen homes and one commercial premise in the Poble Sec neighbourhood, whilst the other comprises twelve homes and is located in the heart of the Raval neighbourhood.

Original story: Eje Prime

Translation: Carmel Drake

The Student Hotel Invests €10M in its Second Hall of Residence in Barcelona

20 April 2018 – Eje Prime

The Student Hotel has doubled its presence in Barcelona. The Dutch company has invested €10 million in the remodelling of its new student hall of residence in the Catalan capital. The asset, located in the Pobleneu neighbourhood, will be called TSH Campus Marina and will have a surface area of 21,200 m2, which will be able to accommodate around 500 students.

With this new building, the group is debuting the TSH Campus brand, which is going to specialise in accommodation for undergraduate and post-graduate students. In addition to the 500 bedrooms, the complex will also contain 50 kitchens, four swimming pools, study rooms and a laundry, as well as a restaurant (La Forastera), which will be managed by Grupo Raval, according to explanations provided by the company.

The company, owned by Charlie McGregor and the funds Aermont Capital and APG, arrived in Spain in 2015 with the purchase of two halls of residence in Barcelona from the Melon District group. Like in the case of the hall of residence in Poblenou, the company’s first property in the Catalan capital, located in Poble Sec, was also subjected to a complete renovation.

Plans for the future: €240 million of investment and an opening in Madrid

One of The Student Hotel’s next steps in Spain is going to be the opening of its first hall of residence in Madrid in 2019. That purchase forms part of a €240 million investment plan that the company led by McGregor is going to carry out in the country, where it plans to open up around ten properties for students.

The objective of the company is to find opportunities in Bilbao, Sevilla, Santander and Granada, amongst other cities, to continue growing its domestic portfolio and for Spain to become its second reference market, behind only Italy, where it expects to have thirteen halls of residence. In total, The Student Hotel is going to invest €1.6 billion to accumulate forty establishments across Europe by 2021.

Original story: Eje Prime

Translation: Carmel Drake