Urbania has completed the acquisition of a rented residential building in Madrid, located just south of the Retiro Park and in close proximity to Madrid’s main train station “Atocha”. The area attracts upward mobile young households looking for quality housing in close proximity to the upscale Retiro.
The building in set over three underground parking floors, ground and five floors. The acquisition consist of 19 apartments and 36 parking spaces.
This acquisition is the beginning of an aggregation strategy to buy discounted assets seeking mid/term capital appreciation in a sector that offers an attractive and scalable opportunity.
The residential sector in Madrid in selected areas is expected to benefit from a blend of favourable supply/demand fundamentals, price stabilization and turnaround potential now when the banks are opening up credit lines for families to acquire a house.
Urbania objective is to optimize the functional and physical requirements of the building which had been mismanaged, ensuring operational and high maintenance practices, giving a building face lift. Everything with a view to generate value over the years with solid rents.