Syllabus and Invesco Developing Nine Student Residences in Spain and Portugal

21 October 2019 – Urbania’s subsidiary Syllabus, which signed an agreement with Invesco at the beginning of the year, currently has projects for nine student residences underway in Spain and Portugal.

In total, the firm’s investments will add 3,000 beds to its portfolio, in addition to the 2,500 it had already planned to build by 2021. The total investment in the nine projects in Spain and Porto is forecast to exceed €150 million.

The company is planning or building two student residences in Madrid and one each in Valencia, Malaga, Pamplona, ​​Seville, Salamanca and Porto in addition to other investments the firm has yet to disclose.

The projects are part of a collaboration agreement Syllabus signed with Invesco at the beginning of the year. The two firms agreed to invest 250 million euros over five years in student residences in Spain.

Original Story: Eje Prime – Marc Vidal Ordeig

Adaptation/Translation: Richard D. K. 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

Madrid Enters Top 3 Global Ranking of Best Destinations for Luxury Real Estate

21 March 2019 – Idealista

The city of Madrid has entered the Top 3 global ranking of best destinations for real estate investment, according to the Barnes City Index. The Spanish capital is ranked behind only Lisbon and Porto for high-end properties this year.

In fourth place is Montreal and in fifth place is Miami. Those cities are followed by London, Genoa, Athens, Monaco and Biarritz.

In 2018, Madrid was ranked in 10th place. The Index ranks the top 50 cities in the world that have the greatest appeal for real estate buyers and investors in the luxury segment on the basis of economic, political, cultural and other considerations.

Original story: Idealista 

Translation/Summary: Carmel Drake

Bankinter Creates a Fund to Invest €400M in Student Halls

19 November 2018 – Real Estate Press

Bankinter has launched a venture capital fund that is going to invest €400 million in the promotion of student halls in the main university cities across Spain and Portugal. The fund is called ‘Fondo V Student Iberia’ and is going to be managed by Plenium Partners. To date, it has acquired a plot in Granada and it plans to buy more land in Valencia and Porto.

The fund has an initial capital fund of €150 million, and although it was created with the idea of giving the option for the entity’s private banking clients to invest upwards of €200,000, Bankinter itself has contributed €10 million. In addition, the US real estate manager Valeo – which owns more than 75,000 beds in student halls and nursing homes, primarily in the USA, contributed another €4 million and Plenium Partners, €1.5 million.

From there, “Fondo V Student Iberia” established its main hypotheses, which include the construction within a period of 2 years and the launch and operation a year later of at least four university residences containing 2,500 beds in total, in which it is going to invest up to €200 million.

With that objective in mind, it has already carried out its first acquisition, the purchase of a plot of land in Granada for which it has paid €8.8 million. It calculates that it is going to invest €41.3 million in total to build a 5-storey student residence containing 519 beds there, which will open its doors in September 2020.

Moreover, it is negotiating other alternatives to grow to almost 2,500 beds in the near future and has identified different opportunities to expand its portfolio to 9,000 beds.

The group is seeking to expand initially in the Iberian market, through the development, construction, execution and management of residential assets for students, primarily in Madrid, Barcelona, Valencia, Granada, Sevilla, Málaga, Lisbon and Porto.

The aim is to constitute a portfolio of assets that generate “predictable and recurrent” annual income in the hands of managing partners with proven experience, explains the document.

In this way, Bankinter is continuing its strategy of investing in alternative funds, after launching Helia, a venture capital fund that invests in renewable energy, and launching onto the market the Socimis Ores with commercial properties and Atom with hotels.

But now, it has placed its focus on university residences because Spain has 1.6 million students in total, close to the historical maximum, and also because it is one of the main destinations for international university students (and the top destination for those participating in Erasmus).

It is considered to be a sector with stable and growing demand; and it is estimated that between approximately 400,000 and 470,000 students are looking for accommodation. Moreover, a potential increase is expected in the student population in Spain and of Asian students, especially from China and India, where they have a lower presence than in other European countries such as Italy, Germany and France.

All of this will help the internationalisation strategy of the Spanish universities and the aim of obtaining value from the fact that Spanish is the second most widely spoken language in the world, with 400 million speakers.

Original story: Real Estate Press

Translation: Carmel Drake

MK Premium Buys its First Retail Premise in Barcelona for €1.7M

26 July 2018 – Eje Prime

MK Premium is diversifying its investments. Specialising in the residential market, the Catalan family office has purchased its first retail premise in Barcelona for €1.7 million. The asset is located very close to Las Ramblas in the Catalan capital.

Spanning a retail surface area of 440 m2, the premises are located at number 44 Calle Escudellers, next to Plaza Orwell. The property is going to be renovated to recover the original serigraphs on its façade.

The property acquired by the family office that is owned by the brothers Daniel and Sergio Leiva was constructed in the 16th century, although the upper floors, dedicated to residential use, were built in 1769. The building has been declared an Asset of Cultural Interest by the Town Hall of Barcelona. MK Premium aspires to achieve an annual return of 5.5% from this property, located in one of the prime retail areas of the Catalan capital. The Leiva brothers will establish a monthly rent of €10,500 for the asset.

With this new purchase, the Catalan real estate company has finished the first half of the year with investments worth more than €9.3 million, spread between its offices in Barcelona, Madrid, Lisbon and Porto.

MK Premium ventured into Portugal at the beginning of 2018, as reported by Eje Prime. Its commitment to the neighbouring country is in line with the real estate company’s roadmap, which details that it is willing to invest up to €25 million this year.

Specifically, the most recent purchase that the company has carried out in the residential sector was in Lisbon. The Catalan real estate firm invested €0.5 million a few weeks ago in its first residential building in the Portuguese capital, as revealed by Eje Prime.

The family office’s portfolio now contains almost fifty assets, although it still needs to buy many more buildings and premises to reach the target of having eighty properties in its portfolio by the end of this year.

Original story: Eje Prime 

Translation: Carmel Drake

Vía Célere Launches in Girona with a 139-Home Development

29 May 2018 – Eje Prime

Vía Célere is expanding its homes across Spain. The residential property developer has started marketing Célere Domeny, its first project in Girona, comprising 139 homes. The urbanisation is going to be built in the capital of the province located in the north of Cataluña. In that autonomous region, the company is already working on projects in Barcelona.

Vía Célere’s new development comprises two-, three- and four-bedroom homes, which are going to be built on a plot of land that will also have common areas with a swimming pool, a padel court, a gym and even a study room, amongst other services.

The residential development is located in the northwest of the city of Girona, in Pla Baix de Domeny between Calles Roberto Bolaño Avalos, Damià Escuder i Lladó and Carrer Font de la Teula. The developer is going to open an experiential office on the site, a project unveiled recently by Vía Célere, which allows visitors to tour different spaces and experience emotions and sensations.

The province of Girona is the tenth in which the real estate company chaired by Juan Antonio Gómez-Pintado has a presence. The firm is controlled by the international investment fund Värde Partners. In addition, the company owns plots of land in neighbouring Portugal, in Lisbon and Porto, which it inherited from its merger with Dospuntos in 2017.

Currently, Vía Célere has a land bank spanning 1.4 million m2 of buildable space, equivalent to a production capacity of 12,200 homes. The property developer invested €227 million last year to expand and diversify its land portfolio, with operations in Madrid, Sevilla, Valladolid, Barcelona, La Coruña, Girona and the Balearic Islands, amongst other provinces. Since 2007, the company’s management team has delivered 2,300 homes.

Original story: Eje Prime

Translation: Carmel Drake

Medcap Diversifies & Allocates €50M to Alternative Investments & Portugal

19 March 2018 – Eje Prime

Medcap is starting 2018 by making new investments and entering new markets. Diversification and alternative assets are going to be the focus of the group over the coming months, which has just invested €50 million on its entry into Portugal and the launch of a healthcare assets investment division, according to explanations provided by Dimas de Andres, the group’s CEO to Eje Prime.

One of the main operations that Medcap is going to carry out this year, as well as continuing “to keep an eye on opportunities in the prime retail sector, which is one of the fund’s main activities” is going to be the launch of two out-of-town retail parks in the Portuguese market, specifically, in Lisbon and Porto.

The company has invested €30 million in the purchase of 2 plots of land, one spanning 19,000 m2 and the other measuring 27,000 m2, for the complete development of two commercial areas, which are going to be leased in their majority to a supermarket group, according to explanations from Medcap.

Medcap Real Estate, a company owned by the De Andrés Puyol family, has also explained that it is going to back alternative investments this year. The company is currently involved in a healthcare project in the Community of Valencia. With an investment of between €15 million and €20 million, Medcap is going to construct the building with all of the needs that a healthcare operator may have, in order to put it on the market and lease it or resell it.

With these types of assets, the company is going to focus its efforts on Valencia and Cataluña. “We are not afraid to continue buying in Spain: our investments in Madrid and Barcelona are still intact”, explains the CEO of the company. “We are long-termists and we are not afraid of the political situation”, he says.

In addition to its investments, the group is also starting a divestment phase in 2018. The company has already sold the NH Murcia Hotel, located in Cartagena, and a supermarket, also located in Cartagena, for €12.5 million. “At the end of the day, divestment forms part of our business too”, say sources at the company.

MedCap, ten prime assets

At the beginning of 2015, the De Andrés Puyol family constituted Medcap Real Estate to manage its portfolio of assets, formed as a result of the contribution by Inversora del Reino de Valencia of one of its branches of activity, which included all of the urban assets leased or offered as rental properties, as well as all of the shares of the subsidiary specialising in managing operations relating to prime retail.

Medcap’s shareholders have a long history in the real estate business, with extensive experience in the search for, development of and letting of assets. Medcap focuses its activity mainly on the prime segment given the greater stability of that sector. Nevertheless, it also has a portfolio of rental properties for operation such as supermarkets in more secondary areas.

Medcap has a pipeline of assets in different stages of development or study in Spain, the Netherlands and Italy. Its most noteworthy properties include the building at number 80 Paseo de Gracia, where the luxury firm Louis Vuitton has its flagship store in the Catalan capital, as well as the Desigual megastore on Plaza Cataluña and the Apple store on Paseo de Gracia, according to the firm’s annual accounts.

In Madrid, until January, the group was the owner of the Adidas flagship store at number 21 Gran Vía (pictured above), which it sold to Triuvua; and the Louis Vuitton flagship store at number 66 Calle Serrano in Madrid, amongst others. The valuation of Medcap’s prime retail assets exceeds €475 million, according to the most recent valuation performed by the company.

Original story: Eje Prime (by Custodio Pareja)

Translation: Carmel Drake

Via Célere Expands in Portugal Building 60 Homes in Porto

27 February 2018 – Eje Prime

The developer began operations Portugal last September with the launch of its first venture in Lisbon, where it is building a development of 276 homes.

Vía Célere now intends to expand its footprint in the Portuguese real estate market. This time the developer headed to the north of mainland Portugal, setting its sights on the city of Porto. The Spanish real estate company will build 60 homes on land that it had previously acquired through a merger.

The company, chaired by Juan Antonio Gómez-Pintado (pictured above), will launch the development on a 6,144-square-meter site that was incorporated into Vía Célere after its merger with Dospuntos. The project will be implemented in Lordelo do Ouro, a neighbourhood that is four kilometres from the city centre, according to El Economista.

The Vía Célere development in Porto reinforces the commitment, not only of Gómez-Pintado’s real estate firm but also of Spanish real estate developers in Portugal. “It is the right time to move forward with the development of new projects in Portugal. Because of its sustained economic growth and the growing confidence and purchasing power of its consumers, in an environment of greater access to finance and low-interest rates, the Portuguese market is an excellent opportunity for real estate investment,” via Célere’s chief executive stated during a presentation of the project in Lisbon.

The Lisbon development will begin construction during the second semester of this year and will be divided into four phases. In the first phase, a residential area encompassing 15,800 buildable square meters will be built, together with up to 120 multi-family homes. The land for this project also originated with Via Célere’s merger with Dospuntos.

Original story: Eje Prime

Translation: Richard Turner