The Polanco Family’s Socimi Launches Corporate Rental Homes in Madrid, Barcelona & Lisbon

16 January 2020 – El Diario

HomeCapital Rentals, the Socimi owned by the Polanco family’s investment fund, Qualitas Equity Partners, has started to invest in homes in the centre of Madrid, Barcelona and Lisbon to lease them to company directors as part of its initiative to enter the medium-term corporate rental segment.

The company, which specialises in the acquisition and renovation of residential assets for their rental, has already signed preferential agreements with the two main operators in the corporate rental market, HomeSelect and BeMate, which will be responsible for managing its properties, including the marketing, maintenance, cleaning and administration of them.

The Socimi already has 97 apartments in five buildings in Madrid and Barcelona, containing apartments that have been specifically designed for corporate clients with common areas for coworking and coliving.

Original story: El Diario (by Antonio M. Vélez)

Translation/Summary: El Diario

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

Be Mate Teams Up With Fund Q Capital to Grow its Tourist Home Business

23 March 2017 – Expansión

The businessman Enrique Sarasola has found a new formula for accelerating the growth of Be Mate, the rental platform for tourist apartments, through which he is complementing his Room Mate hotel offering. The plan is to team up with the investment fund Q Capital, which will contribute €100 million of funding so that Be Mate can search for, adapt and manage between eight and ten apartment buildings in cities such as Madrid, Barcelona, Málaga and Sevilla.

“The project reinforces the idea that you can’t block progress”, explains Sarasola to Expansión, who also highlighted the importance of the fact that a “team as strong” as the one at Q Capital has decided to back the management of entire apartment buildings. The faces behind that firm include Íñigo Olaguíbel, Borja Oyarzábal and Borja Pérez.

Q Capital, founded in 2016, channels direct investments in Spain from Qualitas Equity Partners. Its objective is to find returns in segments such as SMEs and other niche areas not served by traditional financial operators.

Medium and long stay apartments

This alliance is going to give a boost to the concept already tested by Be Mate in the Plaza de España Skyline building: the management of entire buildings of tourist apartments. This business, inaugurated last year, is proving “a success”, explains Sarasola.

The novelty is not only in the financing, which is going to be provided by Q Capital, but also in the fact that Be Mate is going to go beyond the tourist home service to offer “apartments for medium and long stays, and for corporate use”. According to Sarasola, “it is another change that adapts to our times. We are pioneers in this field, but it is because we listen to our clients and we have identified that the need exists”.

Of the ten or so buildings planned, Be Mate has already identified five. The acquisitions will be undertaken over the next three years, initially in Spain, which is the “priority” market, but not at any price. “We will invest here for as long as the regulations are not prohibitive. If that changes, we will go overseas”, he warns.

Be Mate broke its own revenue record last year, by generating sales of €6 million, 10 times more than during the previous year. It sold 80,000 overnight stays for 30,000 clients, 40% of whom came from international markets. The company offers 10,000 apartments, 600 of which it manages exclusively.

Original story: Expansión (by I. de las Heras)

Translation: Carmel Drake