US-Fund TPG Looks to Sell Portfolio of Rental Flats for €75 Million

17 September 2019 The US fund TPG announced its intention to sell nine buildings with rental flats located in Malaga, Tarrassa, Badalona, ​​Girona, Sabadell, Alicante, Valencia, Madrid and Valdemoro. The firm hopes to raise at least 75 million euros through the sale.

The nine buildings have a total of almost 400 flats and 600 parking spaces and are currently 90% occupied. TPG acquired the buildings just over two years ago through its subsidiaries Sardes Holdco and Hadley Investments.

The Catalunya Caixa Propietat FII real estate investment fund, which was liquidated, previously owned the nine residential developments.

Original Story: El Confidencial – Elena Sanz

Photo: E.S.

Adaptation/Translation: Richard D. K. Turner

Vivenio Acquires Three Apartment Blocks in Madrid and Barcelona

29 August 2019

Vivenio, a socimi owned by Spain’s Renta Corporación and the Dutch fund APG, has acquired three residential buildings, all currently occupied by rental tenants. The assets, which the socimi purchased from Fidere, will add a total of 500 new flats to Vivenio’s portfolio. Two of the apartment blocks are in Madrid and one is in Barcelona.

The deal, which is tied to a series of conditions, will cost the socimi a maximum amount of 85 million euros. The socimi has already deposited 25% of the total.

Original Story: Idealista

Adaptation/Translation: Richard D. K. Turner

Vbare Completes €16.35-Million Capital Increase

5 August 2019

The socimi Vbare raised 16.35 million euros in a capital increase, the firm’s largest yet, and above the planned increase of 12.5 million euros. The socimi, which invests in rental flats, will invest the funds in the acquisition of a 6-7 million-euro building in central Madrid.

Original Story: La Vanguardia / Europa Press

Adaptation/Translation: Richard D. K. Turner