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Al Breck sells portfolio for €4.7M
07 May 2020 |

During this year’s first 4 months, REIT Al Breck carried out a divestment process with which it received 4.7 million euro.

Foto

Embajadores 181 Residencial Building, one of the assets inclued at Al Breck's portfólio 

According to information advanced by the company this Wednesday on a release issued at the Mercado Alternativo Bursátil, the REIT sold houses and stores, together with storage rooms and parking spots, so as to «take advantage of the market opportunities». The names of the assets’ new owners were not disclosed.

It is also known that, with this operation, Al Breck had «a profit of approximately 845.000 euro», and also that «as a result of these transactions, the REIT sold all the assets it owned».

This is the second divestment operation the company carries out this year. The first was a set of dwellings, warehouses and parking spots. These sales were carried out through affiliate companies Manzana (5.6 million euro) and Reyes 5 (5.2 million euro), representing a total of 14.2 million euro.

Al Breck Socimi entered the Spanish real estate market in December 2014 with a focus on the acquisition, rental and management of residential real estate inside the province of Madrid, it can be read on its official webpage.