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Hispania acquires 199 dwellings in Madrid for EUR29.9m

Wed, 30/07/2014 - 11:58

Hispania Activos Inmobiliarios, through its subsidiary Hispania Real SOCIMI, has two residential buildings totalling 199 dwellings located in the Madrid region – 115 in Majadahonda and 84 in San Sebastián de los Reyes.

The deals include the purchase of 227 parking spaces and 115 storage units. The total acquisition price has amounted to EUR29.9 million.
 
The dwellings are currently rented, with an overall occupancy rate of 87 per cent.
 
“These new acquisitions of residential assets fit perfectly in our strategy of investing in high quality assets with a value creation potential through an investment and management plan. We are very confident in the value creation opportunity which these assets present, given their location in consolidated areas within the Madrid region,” says Concha Osácar, board member of Hispania.
 
Azora, external manager of Hispania, has extensive experience in the investment, repositioning and management of residential assets under rent through a team of c. 95 professionals, who manage c. 100 buildings with more than 10,500 dwellings across 17 Spanish provinces.
 
The 115 Majadahonda dwellings acquired are within a closed residential community. They have an average surface of 85 square metres, with two bedrooms and two bathrooms, as well as associated parking spaces and storages.
 
The 84 acquired San Sebastián de los Reyes dwellings have two and three bedrooms and are distributed across two buildings. They have an average surface of 100 square metres and have parking spaces and storage units linked to the apartments.


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