AXA IM Buys 919 Rental Homes in Madrid from Tectum for €150 Million

Axa’s real estate manager has starred in the largest turnkey operation involving rental homes in Spain to date.

The manager AXA IM-Real Assets, the real estate arm of the insurance company Axa, has given a clue as to where the Spanish real estate market may go in the short and medium term: it has purchased a portfolio of 919 social housing properties, located in the Community of Madrid, and intended for rent (known as build to rent) from Tectum for €150 million.

The vendor, Tectum Real Estate, is a company specialising in the development of properties for rent, together with its developer partner, Locare Real Estate, which has been advised by the boutique consultant TC Gabinete Inmobiliario. The consulting firm Colliers has advised Axa on the technical and environmental due diligences, and will be in charge of the Project Monitoring for the construction work.

The PSPV Proposes a Housing Plan to Mobilise 4,500 Rental Homes in Valencia

23 February 2019 – Valencia Plaza

The socialist candidate for the Mayor of Valencia, Sandra Gómez (pictured below, left), has proposed a comprehensive housing plan for the city that would mobilise 4,500 homes, through new social housing units (VPO) and empty homes enabled for rental (…).

In a recent speech, the candidate for mayor explained that the plan to mobilise 4,500 homes includes empty homes. “Thanks to the Generalitat’s courage, we are going to have a map with which to operate to identify the large owners of homes, those who own more than ten empty properties”. With this, the socialists propose “an increase in the IBI charge for those empty homes that are not included in the rental market”.

In addition, to achieve the objective of this plan, they will demand “the maximum possible social housing in the city’s new developments, as we are already doing with developments such as Benimaclet, where 30% of the new builds will be VPO” (…).

And, as a third axis, Gómez has proposed that the administration “acts to promote the park of affordable housing that the city of Valencia currently lacks”. She recalled that there are initiatives such as the 300 public homes, being promoted by Aumsa and “the more than 1,000 that are going to be promoted by mobilising land from SEPE, as agreed with the Government of Spain this week. Nevertheless, the Town Hall has to do more” (…).

Original story: Valencia Plaza 

Translation: Carmel Drake

Quabit to Build 700 More Homes in Aguas Vivas (Guadalajara)

14 June 2018 – Eje Prime

Quabit Inmobiliaria is building homes in Guadalajara. This week, the property developer has handed over the keys to 116 social housing properties in Guadalajara, in the new Aguas Vivas development and at the same time, it has laid the first brick for the second phase of another 196 homes. According to the President and CEO of Quabit Inmobiliaria, Félix Abánades (pictured below, right), the company plans to build around 700 properties in this part of Guadalajara over the coming months.

This development is the first new build social housing complex to have been completed in Guadalajara in the last decade, in the new Aguas Vivas development. After completing the first phase, and starting the earth movement works of the second phase, Quabit Inmobiliaria is now also on the verge of starting to market the third phase, which includes another 193 properties, according to Guadaque.

Félix Abánades highlighted that it has taken ten years to start constructing new build homes from scratch again and he expressed his satisfaction that this work is being carried out in Guadalajara and that it is involving social housing units.

Original story: Eje Prime 

Translation: Carmel Drake