ALL IRON RE I Socimi acquires property in Seville for €9.8M

ALL IRON RE I Socimi acquires property in Seville for €9.8M

Calle Albareda 18, in Seville

The operation, signed last Friday, is subject to the fulfillment of several conditions precedent. Once the purchase is completed, it will mean the entry of All Iron RE I Socimi in the city of Seville.

In addition, it implies a new step within the company's growth strategy, which currently has a portfolio of 8 properties, all of them destined for urban accommodation, to which this new asset will be added.

Property in the center of the capital of Seville

The new property is located at Calle Albareda, 18 in Seville, in the heart of the city of Seville. The property has an approximate total area of ​​3,758 sqm and is distributed in two buildings of 4 floors each and with access from Albareda and Rosario streets, respectively. Additionally, it has an interior patio and a basement with parking spaces.

The project foresees the construction of a complex with about 50 serviced apartments, both tourist, 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.

The company's current total portfolio, to which the new property in Seville will be added once the purchase is closed, has eight properties, three of which are in operation (Madrid, San Sebastián and Vitoria), three under construction -which are expected to come into operation throughout 2021-, and another two under development, which are expected to come into operation between 2022 and 2023.

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, such as and as announced today with its new property in Seville.

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