Last updated: 14:21 / Monday, 4 August 2014
€292.7 mn invested since IPO

Hispania Acquires 199 Dwellings in Madrid for €29.9 Million

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Hispania Acquires 199 Dwellings in Madrid for €29.9 Million
  • With this transaction, Hispania has already invested €292.7 million, 54.9% of the net proceeds raised in the IPO

Hispania Activos Inmobiliarios, through its subsidiary Hispania Real SOCIMI, has acquired in two separate deals two residential buildings totalling 199 dwellings located in the Madrid region, out of which 115 are 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 €29.9 million euros.

The dwellings are currently rented, with an overall occupancy rate of 87%. They are high quality assets, located in consolidated areas in the north and north-west of the Madrid region.

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”, asserted 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.

Majadahonda assets

The 115 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. This promotion is located next to the commercial area of El Carralero and has multiple additional services in its surroundings: hospitals, schools, universities -Francisco de Vitoria and Somosaguas Campus of the Universidad Complutense de Madrid- and sport facilities, including golf course.

With a population close to 71,000 inhabitants, Majadahonda is one of the municipalities with the highest rent per capita in the Madrid region. Majadahonda is located in the north-west of the Madrid region and is well communicated with the city centre by the A-6 and M-503 highways and thanks to a wide public transportation network.  

San Sebastián de los Reyes assets

The 84 acquired dwellings have two and three bedrooms and are distributed across two buildings. They have an average surface of 100 square metre and have parking spaces and storage units linked to the apartments. Located in the north of Madrid, next to the commercial areas of Plaza Norte 2 and Factory, the dwellings have access to numerous services in the surroundings: hospitals, sports facilities, including golf course and subway.

With this transaction, Hispania has already invested €292.7 million, 54.9% of the net proceeds raised in the IPO.

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