The purchase comes after a sale and purchase agreement closed in March between the two parties. In addition to these houses, there are another 129 in the amount of €21 million, to be transacted in the coming months.
These houses are distributed a little throughout Spain, such as Madrid, Palma de Mallorca, Barcelona or Valencia, among others. These cities represent about 66% of the total.
Wolfgang Beck, CEO of Testa Residencial, has been very pleased with the closure of this acquisition which "consolidates Testa's position as SOCIMI leader in the rental housing market in Spain with nearly 10,500 houses located mainly in Madrid and with a notable presence in Barcelona, San Sebastian and Palma de Mallorca," states Spanish Real Estate.