All Iron Re i Socimi announced on Monday the formalization of the acquisition of its second property in Barcelona for 35 million euros. The operation, which the company had announced last December, is supported by the combination of capital expansion recently executed by the company and by bank financing by Abanca and BBVA, as explained in a statement.
It’s about A 97 room aparthytel that is already in operationhas a privileged location when located in the technology district 22@. The socimi will trust the lease of the property to LEBER HOSPITALITY GROUPbetting on its business model based on the use of new technologies.
With this operation, the company says it consolidates “as the largest institutional portfolio quoted with short and half -stay apartments”, with a value exceeding 300 million euros. The portfolio is located in Premium locations and around 50% of it is located in Madrid or Barcelona. The company currently has 19 portfolio assets that total about 1,000 units in total.
For All Iron, the apartment business is obtaining strong growths and profitability above the market, and is benefiting from a defensive business model, allowing customers to be accommodated both short and half stay.
The company formalizes the acquisition, previously announced, for which it launched its capital increase in November 2024. An operation that was completed with the collection of 19 million euros and that evidenced the confidence that investors maintain in the company’s business model despite the complex regulatory context.
The operation is also backed by the financing by Abanca and BBVA, with whom there are socimi has signed two loans with mortgage guarantee for a total amount of 20 million euros, destined for the acquisition of the property. The interest rate of the loans is from the Euribor (12 months) plus a differential of 1.5%.
The purchase of this new property is part of the growth strategy of All Iron Re i Socimi, which aims to strengthen its presence in Madrid and Barcelona. At present, both cities contribute 50% of the value of the company’s portfolio. With this operation, All Iron Re i Socimi hopes to achieve an annual profitability of more than 7% of the Net Yield (net profitability), as explained by the company.
Strategic location
The new apartment has 97 units. In addition, the asset has a restaurant, Lobby Bar, Conferences and parking spaces. In total, the surface of the property exceeds 7,000 square meters.
Regarding the location, the asset is in district 22@, which has become in recent years in the reference district for technological and innovative companies in Barcelona. In this area, companies such as Meta, Amazon or Softonic.
In the specific case of Barcelona, All Iron Re i Socimi already has another property in property in the city, Located in the Sant Antoni Round and equipped with 38 apartments.
After this operation, there Iron re i socimi It goes on with 19 properties around 1,000 units together within the short and half -stay accommodation segmentof which 11 are already in the operation phase and another 5 in the construction phase.
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