Almagro buys 7 properties in Madrid for €6.5M

Almagro buys 7 properties in Madrid for €6.5M

According to the company, the largest operation responds to the purchase of a house located in the Nueva España neighborhood that has an area of 768 sqm. The price of this acquisition amounts to 3.75 million euros, which will be financed in part through a loan with Banco Santander for an amount of 2.62 million euros (maturing in December 2027 and with an annual fixed interest of 1.68%).

Regarding the other transactions, the biggest acquisitions were the purchase of another property in the Jerónimos neighborhood with 240 sqm for 1.44 million euros, followed by another located in Cuzco with 228 sqm for 700,000 euros. The remaining operations respond to the acquisition of smaller homes, around 70 sqm in Valdeacederas, Palos de Morguer, San Fermín and Pacífico for prices ranging between 110,000 and 200,000 euros.

With the exception of the loan with Banco Santander for the purchase of the asset located on Avenida de Alberto Alcocer, none of the acquisitions have required third-party financing, so they have been paid out of the company's treasury.

Almagro announced in September of the last year that the company was planning to triple its portfolio in 5 years, therefore this transactions can be already seen as an investment to achieve that goal.

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