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Almagro wants to double its portfolio until the end of the year
25 October 2019 | Vanessa Sousa

Almagro currently has a portfolio with 33 senior residences – all located in Madrid – and it should double that amount before the end of the year. In order to achieve this, the REIT should spend 32 million euro.

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This amount corresponds to about 80% of the amount reached by the company during its latest capital increase, advanced Spanish newspaper Eje Prime this Thursday.

This goal will only be achievable, because the REIT is currently «negotiating a large number of operations» guaranteed Luis de Ulíbarri, president of Almagro, to the same Spanish daily newspaper. According to Ulíbarri’s predictions, by the beginning of next year, all the operations should already be concluded.

The company’s plans for 2020 are to continue investing and with that goal in mind, the company is considering a new capital increase.