ALL IRON RE I Socimi informed BME Growth of the acquisition of a new property in Barcelona, for an amount of 15.4 million euros.
The company's goal is to transform the building, which is currently a 3-star hotel, into a complex of 38 serviced apartments, as traditional aparthotels are called in the sector that incorporate an innovative and differential offer. They will be used for short and medium stay accommodation.
This operation marks the entry of All IRON RE I Socimi in Barcelona and is one more step in the company's growth strategy in the main cities of Spain. So far this year, ALL IRON RE I Socimi has acquired 3 assets, one in Seville, another in Bilbao and now a third in Barcelona. In total, the company's portfolio is made up of 11 assets located in different Spanish cities and in Budapest.
Located in the heart of the city
The new property is located in Ronda de San Antonio, 49 in Barcelona, in the heart of the city. The building has a total area of approximately 2,770 sqm and has a ground floor and 6 floors above ground.
The project foresees the construction of a complex of 38 serviced apartments for short and medium stay accommodation, both for tourism, family or business.
In the current context marked by the COVID-19 pandemic, the serviced apartments business is proving to be an active refuge within the accommodation sector, since its versatility and greater functionalities are very attractive to meet the needs of customers, both short stay and medium stay.
After this operation, the company's total portfolio has 11 properties, 4 of which are in operation (Madrid, San Sebastián, Vitoria and Bilbao), 2 under construction - which are expected to come into operation throughout 2021 -, and another 5 under development, which are expected to come into operation between 2022 and 2024.
In addition, the company continues with its growth process, actively analyzing the acquisition of new properties to expand its business model, with special focus on key cities such as Barcelona, Madrid and other capitals in southern Spain, among other locations.