ASOCIMI and Hogar Sí joined together to launch the first social REIT in Spain, called Primero H. This type of REIT already exists in the United Kingdom and in Australia. The goal is to generate better access to affordable housing rental for vulnerable people.
Faced with the need to extend the affordable housing stock and with more than 33.000 homeless people, Primero H consists in an innovative investment project with social impact. In this way, this vehicle intends to become the main investor on affordable rental units in Spain. It also intends to be a source of revenue on the long-term for its investors and shareholders, with a positive social impact.