But, according to the company’s CEO Antonio Mochón commenting to newspaper Eje Prime, Excem’s goal goes further and is to reach 4.000 new rooms spread across several Spanish cities until 2020, in an investment estimated at 320 million euro. Barcelona, Valencia, Seville, Malaga and Bilbao are four cities currently under the REIT’s sights.
In order to expand its co-living investment to other locations in Spain, Excem will perform a 300 million euro capital increase. Currently, most of Homiii’s 42 assets are located in the Spanish capital, and represent a total of 300 beds.
