VBARE Socimi expands its portfolio with a new residential building in Madrid

VBARE Iberian Properties SOCIMI (VBARE) expands its portfolio with the acquisition of a new residential building located in Calle Santa Valentina, 28, near Plaza de Castilla, in Madrid.

The property has 6 houses and a total surface of 417 m2. The acquisition was closed at a price of €820,000 (excluding the transaction costs) and has been achieved by cash available in the company.

VBARE estimates that, once the entire building is on the market, the gross income will amount to €48.000 per year, which implies an estimated net profit of 5,1%.