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Almagro Capital plans a €14M capital increase
04 June 2020 |

The board of the REIT dedicated to the senior residence segment Almagro Capital should take to the next shareholders meeting a proposal for a capital increase of 14 million shares at 1 euro each.

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This decision was taken «in light of the growing interest generated by the real estate monetisation solution from the senior collective», it can be read in the release.

Thus, if approved by the general board, Almagro Capital will continue its expansion plan in line with the capital increase policies to feed the investment plans for the coming months. Almagro Capital has already carried out its third capital increase for 16 million euro last August.

«The Almagro model allows senior citizens to monetize their illiquid savings concentrated on housing and with that cash complement their public pensions to cover social and health expenses, thus guaranteeing the well-being of their own house and remaining in their homes for the rest of their lives» it was pointed out at Almagro Capital.

Almagro Capital already has an 8.500 sqm portfolio spread across 62 residences located in Madrid.