One of the assets is located at Bairro de Salamanca, in Madrid, revealed the company on its webpage. The building will host 22 apartments and private parking.
This investment is part of a larger project from the Spanish REIT, through which it intends to invest a total 47.7 million euro to transform 205 apartments – spread across 7 buildings – not only into co-living areas, but also into local accommodation for tourists, revealed Idealista last week.
The Spanish cities elected to receive the investments have, according to the Capriles family who owns the REIT, «a high level of tourism and many young junior professionals». The cities which were chosen apart from Madrid, were Seville and Malaga.
These are the two segments within which Orinoquia Real Estate operates on the market. Its portfolio currently includes 3 properties: two in Malaga and one in Valencia, each of which also has a small local shop.