Coral Homes, company owned by Lone Star and CaixaBank, has launched the Vision portfolio with the aim of meeting the unsatisfied demand for new housing in secondary areas, the company said in a statement.
The portfolio, with a value of 215 million euros, comprises a total of 286 assets (247 plots of land and 39 structures for residential development) spread over more than 200 locations in Spain. Overall, the portfolio represents a surface area of 1.7 million square metres and a total buildable area of 1.8 million square metres, with the potential to build 14,500 homes.
According to Coral Homes, the common feature of all the assets is that the purchaser developers will be able to put the homes up for sale from the first quarter of 2024. In addition, the company has conceived the marketing, which will be carried out until 31 December, on an individual basis (line by line). Likewise, the execution and operation of each of the transactions will be characterised by the direct and personal intervention and negotiation of the Coral Homes team with the advice of Servihabitat.
Prior to the launch, Coral Homes has carried out a technical and urban analysis of the assets, as well as a review of all prices based on the final demand for new-build housing in each of its locations. From an operational point of view, a specific website has been created, where the details of the assets can be consulted and further information on the project can be found.
According to Alberto Prieto, head of Coral Homes, "in secondary areas, where the average size of the projects is such that the large developers are not present, there is still unsatisfied final demand and development opportunities for local and regional developers. Coral Homes' proven ability to close all these transactions quickly will reduce the time to market for all these assets so that any developer can market the final product quickly".
