Property Developer Vital Inmobiliaria Launches its First Development in Marbella

17 April 2019 – Eje Prime

Vital Inmobiliaria is launching its first residential development in the centre of Marbella with the construction of 16 villas spanning 8,000 m2 in total. The properties are going to be located on Avenida Huerta Belón and will comprise thirteen terraced houses and three detached homes.

Each home will have a surface area of 360 m2 distributed over two floors and an attic, as well as a communal garden and swimming pool. The construction work is due to begin in September, and the homes are expected to be ready for delivery by the summer of 2021.

The property developer is currently marketing nine other residential developments across Spain, two of which have already been constructed. The other seven are located in Tenerife (3), A Coruña (2), Asturias (1) and Marbella (another 1).

Original story: Eje Prime (by Milana Mishchenko)

Translation/Summary: Carmel Drake

ADU Purchases the Mestalla Plots from Valencia FC for c. €115M

17 April 2019 – Idealista

The manager ADU Mediterráneo and CONCOVI (the Confederation of Housing Cooperatives in Spain) has reached an agreement with Valencia CF to purchase the plots on the site of the current Mestalla stadium.

It is the largest land transaction to be signed for a decade in Valencia, with a surface area of 97,225 m2, of which 55,769 m2 will be dedicated to residential use and 41,456 m2 for tertiary purposes.

According to the newspaper Las Provincias, the consideration for the deal could amount to more than €115 million. Valencia FC will move to its new stadium during the 2022-2023 season. CBRE will exclusively manage the sale of the tertiary and residential properties.

Original story: Idealista 

Translation/Summary: Carmel Drake

Acciona Sells a 135-Home Development in Madrid to Axa

20 March 2019 – Idealista

Acciona has completed the sale of a residential development in the Méndez Álvaro area of Madrid to the insurance company Axa. The project, which is going to be constructed under the ‘build to rent’ formula, will comprise 135 rental homes distributed over ten floors.

The property will have a swimming pool, gym and terrace, as well as one parking space and one storeroom per home. The construction work is expected to be completed in December 2020.

Original story: Idealista 

Translation/Summary: Carmel Drake

Dutch Firm Ten Brinke Buys 50,000 m2 in Ciempozuelos for New Retail Park

20 February 2019 – Eje Prime

New investment by Ten Brinke in Spain. The Dutch company dedicated to the development of residential properties and retail parks is going to build a new shopping complex in Ciempozuelos. The company has acquired a plot of land spanning 50,000 m2 and, over the next few weeks, it is going to begin work on the urbanisation of the future space. The new retail park will be a commercial hybrid with operators from the food, leisure and restaurant sectors, amongst others, although the company has not yet set a date for its future inauguration.

This project will join the one that the company is building in the Bahía de Cádiz with an investment of €20 million. There, Ten Brinke Desarrollos is building a new retail park on the Batería de la Ardila road, on the site of the former Tiro Janer industrial estate in the municipality of San Fernando. In that case, the property developer expects to finish the building work in 2020, and to open the complex the same year (…).

Ten Brinke Group is a Dutch multi-national with 115 years of experience in the development of residential properties and retail parks. It has been present in Spain for more than ten years and has offices in Madrid and Barcelona. The company also has offices in Germany, Portugal, the United Kingdom and Greece. On the global scale, it generates turnover of more than €950 million and has more than 950 employees, according to the latest data available on the company’s website (…).

Original story: Eje Prime (by Roger Arnau)

Translation: Carmel Drake

Áurea Homes & FS Capital Buy a Plot of Land in Sevilla for the Construction of 40 Homes

11 December 2018 – Press Release

Áurea Homes, a company specialising in property development services, has acquired a new plot in Mairena del Aljarafe (Sevilla) for the construction of 40 homes. The land has a buildable surface area of 5,080 m2 and represents a total investment of €7.5 million for the development of the Áurea Bulevar development, which Áurea Homes is undertaking together with the fund FS Capital.

The development will be distributed over two 6-storey blocks, containing homes with two-, three- and four-bedroom homes. The staggered layout of the blocks towards the south means that all of the homes in the development will have attractive terraces. The complex will also include parking spaces and storerooms, as well as extensive common areas, including a large swimming pool. Áurea Bulevar will be completed with a large commercial premise measuring 800 m2.

This residential complex has a privileged orientation overlooking the new boulevard area in Mairena del Aljarafe, a town that forms part of the metropolitan area of Sevilla and which is experiencing a great urban planning boost with the arrival of new tenants.

The municipality is widely consolidated, with numerous parks and gardens, spanning a total green area of around 500,000 m2 and with several protected spaces. Moreover, the new neighbourhoods are distinguished by their wide avenues, numerous recreation areas and excellent sporting and cultural facilities.

Mairena del Aljarafe is well connected with the city of Sevilla through the metro and several bus routes, which make it one of the most attractive areas for housing in Sevilla.

Second operation in Andalucía

This is Áurea Homes’ second operation in Andalucía, which is focusing on the Sevilla area for the time being. The company’s total investment in Mairena del Aljarafe amounts to €38.1 million for the construction of 197 homes in several developments, 109 of them will be multi-family and 88 will be single-family.

Original story: Press Release

Translation: Carmel Drake

Aquila Capital Builds a New 1,300-Home Neighbourhood in Valencia for €350M

19 September 2018 – Valencia Plaza

In case anyone was in any doubt about the exponential growth being experienced in the real estate sector in the city of Valencia, Tuesday saw the announcement of the largest residential project launched in the city to date since the crisis. And the most interesting aspect: it is not one of the long-term investment projects. The new neighbourhood is a PAI (an integrated development plan), which has already been approved and the first homes are expected to be delivered in the Autumn of 2021.

The initiative comes from the property developer AQ Acentor, which belongs to the German investment fund manager Aquila Capital. The firm is going to build a development containing 1,300 homes and 75,000 m2 of tertiary space. “This operation, which exceeds €350 million, will see the creation of the largest residential urban planning development by a single developer in the country in the last decade”, said the company.

The chosen land is the PAI Fuente San Luis, an area that property developers have turned their backs on for years given its complex location, between the V-30 and V-31 motorways and the Nueva Fe train station – right next to the railway tracks that back onto the hospital – but which the resurgent recovery of the sector and the scarcity of land in the city have offered a new opportunity (…).

The space has a staggering 232,000 m2 of residential buildability, of which 130,000 m2 will be used by AQ Acentor to build 9 developments in total (4 social housing blocks and 5 private residential blocks), according to a statement issued by the firm. In total, 544 homes will be built for social housing purposes, according to the company.

15-storey towers

When asked about the project by Valencia Plaza, sources at the company explained that their plans imitate “the successful model of the Engineers Residential Park in Madrid”, another major project promoted by the brand after it acquired a significant portfolio of land from the public company Sepes. All of the buildings will have 15 floors and two of them will form part of a combined complex of 360 homes (180 plus 180, with a private garden area). The rest will be towers, of the same height, containing more than 100 homes each, located around a freely accessible green area.

Moreover, “the complex will have an enormous plot, measuring 79,000 m2, of very versatile tertiary land, which will be dedicated to various uses (commercial, hotel, social…)”, according to AQ Acentor, which explains that it has “several proposals on the table in this regard”. “No decisions have been taken yet, but the complex could be of interest for the creation of a hotel designed to serve people visiting the hospital, for the development of new offices…there is a lot of space, the idea is to achieve an attractive mix”, they say.

The area has 308,000 m2 of public space for green areas, as well as for educational, cultural and sports facilities, which will be completed with a large urban park measuring 33,000 m2. The company owns most of the plots, acquired formally from the firms Analyst and Proalival last July, but the Town Hall of Valencia also owns land in the area (in fact, it is the second largest owner). The rest of the plots belong, for the most part, to the former owners of the allotments on the site (…).

Original story: Valencia Plaza (by Dani Valero)

Translation: Carmel Drake

Metrovacesa Invests €175M in Torre del Río Residential Project in Málaga

13 September 2018 – Eje Prime

Metrovacesa is backing the Malagan residential market. The property developer is going to invest €175 million in the Torre del Río residential project in the city of Málaga. The proposal involves the construction, on a surface area spanning 58,368 m2, of three residential properties, distributed over 21 storeys and with the capacity for more than 250 homes.

Each tower will house around 75 large homes, two swimming pools, a gym, a gastrobar, a coworking area and a movie theatre. The first units are expected to be handed over at the beginning of 2021.

The construction of the project is going to generate 1,500 direct and indirect jobs and is going to be led by Estudio Lamela, the company that won the architectural tender to construct Torre del Río. In the vicinity around the three skyscrapers, 39,131 m2 of space will be dedicated to free public areas and 12,648 m2 will be allocated for school, sports and social uses, as well as a building for tertiary and hotel use.

According to the developers of the project, “the urban development of this area is going to allow the recovery for Malaga of old industrial enclaves along the Antonino Banderas seafront on Calle Pacífico.

The Torre del Río residential development follows another investment undertaken by Metrovacesa in the south. In June, the listed property developer signed an agreement with the Town Hall of Sevilla to unblock the largest real estate development in the Andalucían capital at the moment.

That project is going to be located in Palmas Altas and will comprise more than 2,800 homes, of which 2,200 will be constructed by Metrovacesa. In terms of investment, access and the urbanisation of the land, the Spanish property developer is going to invest €60 million, funds that will come from a corporate loan that it signed with seven entities at the end of 2017.

Original story: Eje Prime

Translation: Carmel Drake

Habitat Buys 1,278m2 Residential Plot in El Cañaveral (Madrid)

17 July 2018 – Habitat Inmobiliaria

Habitat Inmobiliaria, the company dedicated to the development and construction of residential projects, has signed the acquisition of a plot of land measuring 1,278 m2 in the neighbourhood of El Cañaveral in Madrid. On the plot, which has a buildable surface area of 4,100 m2, a new residential development is going to be constructed containing 41 homes. The total planned investment in the project amounts to around €8.5 million.

The new development will comprise 41 homes with storerooms and 62 parking spaces and will also have green space, a swimming pool and common areas. Marketing of this new real estate development will begin in the first quarter of 2019.

The future urbanisation is located within the new El Cañaveral neighbourhood, in the municipality of Madrid. El Cañaveral is located between the neighbourhood of Vicálvaro in Madrid and Coslada, and has excellent access to the M-45 and R-3 motorways, which allows its residents to travel to the centre of Madrid by car in just 20 minutes. Moreover, it is close to the Renfe stations of Coslada and Vicálvaro.

Specifically, the plot where the development is going to be constructed is located on Calle María Pita, in an area that is seeing a great deal of urban development and where all of the necessary amenities are being planned, such as schools, nurseries, a doctors’ surgery, shopping centres and supermarkets.

This operation forms part of the land acquisition plan that the company has launched and that in recent months has seen it purchase plots in Collado Villalba and Móstoles, both in Madrid. In total, the company has more than 1,400 homes under development, as well as one of the most significant land banks in Spain, which is being strengthened by new additions.

Original story: Habitat Inmobiliaria

Translation: Carmel Drake

Persán’s Owners Acquire 40% of Río 55 Business Park in Madrid for €70M

25 June 2018 – Eje Prime

A new business saga is investing in the Spanish real estate sector. The Moya Yoldi family, owners of the detergent manufacturer Persán, have invested €70 million in the purchase of 40% of the Río 55 Business Park in Madrid. For this operation, the Andalucían family has joined forces with Inmobiliaria del Sur (Insur), the office property developer, with which it has also signed a second agreement involving a prime residential project in Marbella (Málaga).

The owners of Persán, an integrated supplier of the supermarket giant Mercadona, has increased its commitment to the real estate sector through Concha Yoldi, the co-owner of the company together with her husband, José Moya, and the couple’s children: Juan, José and Francisco Javier, according to El Confidencial.

The saga has acquired a significant stake in Río 55, which already signed the sale of one of its two buildings to the fund manager AEW Europe in March. Insur forecasts that it will hand over the keys to the first tenants of the business complex next year. The two properties will span a surface area of 14,000 m2 each.

Likewise, the Andalucían family is also going to invest in its own region in partnership with Insur. Gestafin Global Investment, another of the real estate companies owned by the Moya Yoldi family, has acquired 40% of the luxury development that the real estate firm is constructing in Marbella. In total, 53 luxury apartments will comprise this project in the sought-after Costa del Sol, whose first phase has been underway since 2017. A third plan in the Sevilla residential market, where Insur is building 238 homes, completes the alliances that the family office has with the group.

A Socimi with the owners of Silestone and the founders of Goldcar

The presence of the owners of Persán in the property sector does not end with their individual investments. The Andalucían saga also shares ownership of a Socimi with other entrepreneurial families such as the Cosentinos, owners of Silestone, and the brothers Juan and Pedro Alcaraz, founders of the vehicle renting company Goldcar, now part of the giant Europcar.

Moreover, through Trajano Iberia, of which José Moya is president, the family owners a share of the Madrilenian Alcalá Magna shopping centre, for which the company paid €100 million last year, and a second in Portugal; an office building in the Spanish capital, in the Manoteras area, to be precise; a mixed-used property, for offices and shops in Bilbao; and a logistics asset in Zaragoza (…).

Original story: Eje Prime 

Translation: Carmel Drake

Metrovacesa to Invest €400M in a 2,870-Home Residential Project in Sevilla

7 June 2018 – Eje Prime

Metrovacesa is looking south in its growth plan for the next few years. The listed property developer has unblocked, together with the Town Hall of Sevilla, what is going be its largest project outside of Madrid and Barcelona and what constitutes the largest development currently being planned in the Andalucían capital.

The project is going to bear the name of the Sevillan neighbourhood in which it is located, Palmas Altas Sur, and will consist of a 2,870-home development, of which 2,000 units will be built by Metrovacesa. The remainder will be social housing properties and their construction will be entrusted to the Town Hall, according to El Confidencial.

For the property developer, this land is the most significant plot that it has undeveloped at the moment in its Andalucían portfolio – that region accounts for 25% of the company’s total land bank. The first 600 homes in Palmas Altas Sur will start to be handed over from 2021. Moreover, Metrovacesa will also build 400 VPO homes as part of its construction plan for the area, which will last for five years.

In terms of investment, in the access routes and urbanisation of the land, Metrovacesa is going to invest €60 million, which will come from the corporate loan the firm signed with seven financial institutions at the end of 2017. For the construction of the residential buildings, Pérez de Leza has announced that they will be financed through property developer loans for each phase.

Original story: Eje Prime

Translation: Carmel Drake