This operation is Catella European Residencial Fund’s first purchase in the Iberian Peninsula and Catella Asset Management Iberia will be in charge of managing the investment.
The complex, which is located in the Villaverde Parque Central de Ingenieros, is composed by four buildings with 171 apartments each and the same number of parking spots and storerooms.
Catella Asset Management Iberia plans to buy a further 191 dwellings to rent in Valdemoro, Madrid, during the first quarter of 2020.
Nevertheless, it assures it is on advanced negotiations with owners and developers to acquire a further 600 dwellings.
Director and partner at Catella Asset Management Iberia, Eduardo Guardiola, commented that his company «is ready for a significant expansion of its rental housing portfolio in Spain within the next six months, sustained by the robust foundations of the rental market».