Socimi Vivenio Invests More than €30M in 3 New Operations

11 June 2018 – Europa Press

Vivenio, the Socimi created by Renta Corporación and the Dutch pension fund APG, has closed the purchase of three residential complexes, involving a combined investment of more than €31 million, according to the company.

The properties are located in Madrid, Barcelona and Valencia, thus expanding its geographic diversification, since until now the Socimi had closed operations exclusively in the Spanish capital.

The complex that Vivenio has purchased in the capital is located in Móstoles, 20km to the southeast of Madrid, in a residential and well-connected area, which also enjoys abundant industry. The building, constructed in 2011, contains 102 rental homes with parking and storage rooms, and has an occupancy rate of almost 100%.

In terms of the first operation in Barcelona, the asset comprises three residential buildings located in Teià, to the northeast of the Catalan capital. The complex has 42 homes with two parking spaces and one storeroom each, and excellent common areas with garden areas and three swimming pools.

The third purchase made by Vivenio is located in Valencia, in a building located in the Torrefiel district, to the north of the city. The property comprises 68 homes, 110 parking spaces, 25 storerooms and two commercial premises, and is located in a well-connected area with a great deal of commercial activity.

Original story: Europa Press 

Translation: Carmel Drake

Barings Completes €23M Capital Increase & Prepares Socimi Debut

28 February 2018 – Eje Prime

Barings is not wasting any time in Spain and is taking advantage of the good health of the country to generate profits from its investments. The British fund has just carried out a €23.1 million capital increase for its Spanish subsidiary Barings Core Spain, which, according to market sources, it is preparing to convert into a Socimi and debut on the Alternative Investment Market (MAB) within the next few months.

Specifically, the company has increased its share capital to finance the purchase of new assets and to meet the company’s financing needs. Following this increase, which was published in the Official Gazette of the Mercantile Registry (Borme), the company’s resulting subscribed share capital amounts to €47.1 million.

Now, after a very active year in terms of acquisitions in the Spanish market, the group has decided to transform its company and turn it into a Socimi. Although the company is in the middle of carrying out that process, it does not yet have a final date for the completion of the transformation. The group is also working in parallel to prepare the future Socimi to start to trade on the alternative stock market.

In this way, all of the assets that form part of the Barings portfolio would move across to be managed by its Socimi. They include the recently acquired Berceo shopping centre, in Logroño (…).

Also in 2017, the British company backed commercial assets with the purchase of a prime retail outlet in Spain. Barings acquired the store at number 64 Calle Velázquez in Madrid. With a retail surface area of 1,638 m2, the establishment is currently occupied by Banco Popular.

In terms of logistics assets, last year, Barings also took responsibility for fattening up its property portfolio with those kinds of products. In April, the group purchased a logistics asset in Madrid from GLL Real Estate Partners for €35 million. The warehouse has a surface area of 56,000 m2 and is leased to Ceva (…).

Before the end of 2017, Barings also completed another purchase. In December, the international manager acquired two assets in Majadahonda (Madrid) for €17.6 million, owned until then by López-Real, and occupied by the Eroski supermarket chain. The fund purchased a storeroom and gas station, spanning a total surface area of 10,900 m2.

Last year, Barings also strengthened its management team in Spain. The fund announced that, as part of the on-going expansion of its European offer, it had appointed Carlos de Oya as Director of Asset Management in the Spanish market. Barings has one office in Spain, located at number 38 Calle Serrano, in Madrid.

Barings Real Estate Advisers is one of the largest diversified real estate investment managers in the world. The group is an active investor in private and listed markets, in both equities and debt, and provides fundamental, value-added and opportunistic investment and advisory services to institutional and other qualifying investors around the world. The group manages an asset portfolio worth €271 billion.

Original story: Eje Prime (by Custodio Pareja)

Translation: Carmel Drake

ARC Homes Will Invest €50M To Build New Homes Over Next 3 Years

2 November 2017 – El Confidencial

The real estate firm ARC Homes plans to invest €50 million over the next two or three years in the construction of new homes in various municipalities in the district of Baix Llobregat, Barcelona.

The first development, comprising 47 homes, will be constructed in Los Jardines de Can Mercader, in Cornellà de Llobregat and will be completed by the end of 2019, according to a statement made by the company today.

The building work will begin during the first quarter of 2018, although the property sales already started on 15 September.

All of the homes will be completely “exterior” (overlooking the street/gardens) and will have large terraces with views of the Can Mercader green space. Prices will range between €260,000 and €450,000, with parking space and storeroom included.

Lane Auten, founder and manager of ARC Properties, the parent company behind the ERC Homes projects, explains that the firm “is in the process of searching for and buying land in towns located in the first and second belt of Barcelona”, in the municipalities of Baix Llobregat, El Vallès and El Garraf, as well as in Sabadell, Sant Cugat del Vallès and Sitges.

Original story: El Confidencial 

Translation: Carmel Drake

Catella Buys 2 Housing Blocks In Pinto (Madrid) For €24M

24 January 2017 – Expansión

The Catella Group’s real estate fund manager, Catella AM, has acquired two residential properties located in the Madrilenian municipality of Pinto, for €24 million.

As well as participating in the purchase process, Catella AM will also take responsibility for managing the asset portfolio. The two buildings are twins and have a combined constructed surface area of 18,092 m2, distributed over 216 homes.

Similarly, the assets have 216 parking spaces and 216 storerooms. The properties have an occupancy rate of 93% of the gross leasable area. Catella AM is the Catella Group company that manages investments and real estate assets in Spain and Portugal on behalf of the funds managed by the company itself, as well as for Spanish and overseas institutional investors.

During its first year of activity, the manager has accumulated a portfolio under management amounting to €100 million. In recent months, Catella AM has purchased three residential properties located in Madrid, in Barajas and on Calle Génova, and in Barcelona, in Poblenou (pictured above).

In addition, the manager has completed the acquisition of the 12,400 m2 Portal Mediterráneo shopping centre in Vinaroz (Castellón).

Original story: Expansión (by R.A.)

Translation: Carmel Drake

Vbare Debuts On The MAB With Almost 200 Rental Homes

27 December 2016 – Idealista

With just a few days left until the end of the year, the stock market is still receiving new Socimis. The trickle of debuts is incessant and on this occasion, the star of the show is Vbare Iberian Properties, a vehicle that owns a portfolio of residential rental assets.

The company has debuted on the stock market at a price of €12.90 per share, which represents a market capitalisation of €20.6 million, according to the consultancy firm Grant Thornton, and as such has become the twenty-eighth Socimi to trade on the MAB.

According to idealista.com, the company is backed by foreign capital (one of its main shareholders is the Israeli investment firm Value Base) and it has 183 real estate assets in its portfolio. Almost all of them are homes, but the Socimi also owns some garage spaces and some storerooms.

All of the properties are rented out and are located in the Community of Madrid. They are worth €20.84 million in total, according to Aguirre Newman. Half of the homes are located in Madrid capital, although the company also owns other homes in the municipalities of Aranjuez, Móstoles, Parla and Torrejón de Ardoz. In total, they have a useful surface area of more than 2,000 m2, comprise between one and four bedrooms and have an average occupancy rate of 72%.

One of the objectives that Vbare has set itself for the future is to raise more funds to allow it to expand its asset portfolio and to make the jump onto the main stock market, where some of the largest Socimis are already listed (Lar, Hispania and Axiare; meanwhile, Merlin Properties is listed on the Ibex).

In its market debut prospectus, the Socimi explained that it wants to centre its portfolio on residential real estate assets, aimed at middle-class tenants and located in the metropolitan areas of Spain’s major cities. In other words, areas with significant demand and with future development prospects in the short and medium term.

“Our properties are currently located in the metropolitan area of Madrid, this represents our first phase of investment. Progressively, the Socimi plans to diversify its asset portfolio by acquiring properties in the metropolitan areas of the main provincial capitals in Barcelona, Málaga, Valencia, Alicante, Bilbao, Sevilla, Zaragoza, Palma de Mallorca and La Coruña, which represent the company’s core business”.

Original story: Idealista

Translation: Carmel Drake