According to El Mundo, the property, located at Chamberí, one of the best residencial areas in Madrid, is mainly for residencial use. It has an expected approximate net return of 4% when fully occupied, based on the market rent values.
Fabrizio Agrimi, CEO of the REIT, commented that «it is the most significant purchase ever made by our company, of an asset in one of the best areas of Madrid». The company is a real estate investment vehicle specialised in buying and managing residencial assets for renting. The company started its activity in March 2015 and has been listed at MAb since the 23rd December 2016», quotes the same Spanish newspaper.
