Tutecho, the socimi dedicated to renting housing to social entities, which has been listed on BME Growth since last April, has made property purchases in different cities in Spain for €4.4 million since its arrival on the stock exchange, according to the company's notification to BME Growth.
Specifically, the company has acquired 43 properties totalling 2,990 square metres in the cities of Madrid, Parla, Cordoba, Almeria, Seville and Valladolid. The socimi acquires homes, renovates them and then rents them to social entities so that they can house people in vulnerable situations, promoting their social and community integration.
In Madrid, the company has acquired four properties in the Villaverde neighbourhood, one in Moratalaz and 19 in Vallecas, comprising two complete buildings, one of them with commercial premises, and three individual homes. In Parla, the company has acquired two properties in the central district, while in Valladolid, it has acquired a property in La Rondilla.
In addition to the central area, the company has gone on a shopping spree in the Andalusian market. The largest purchase in the region was made in Almería, in the district of Níjar, where it bought thirteen properties, comprising a single development of twelve homes and one commercial property. In addition, the company has bought one more asset in Cordoba, in Norte Sierra, and two more in Seville, one in Dos Hermanas and another in Macarena.
At the time of the socimi's incorporation into BME Growth, Tutecho had 203 properties in its portfolio, most of them in Madrid, and to a lesser extent in Seville, Barcelona, Almería, Zaragoza, Córdoba, Alicante, Murcia and Valladolid.
Its investment committee includes the Spanish management company Azora Capital, with a 5.3% stake in the capital, which provides support services for the identification of neighbourhoods and carries out detailed studies of the areas in which it plans to invest.
