The asset was purchased for 6.6 million euro. The purchase was completed using only the company’s own capital and the financing is currently being negotiated with different financial institutions.
This is VBare’s first operation after closing a 16.3 million euro capital increase last August.
With this acquisition, VBare’s portfolio increased to 313 units (including dwellings and commercial spaces).
Fabrizio Agrimi, VBare’s CEO, commented «After having successfully completed the capital increase in August, we are very happy to having been able to close the acquisition of a building located in a privileged location at the heart of Madrid which in high demand in terms of renting. We have several projects on the table and are actively seeking new opportunities to invest the funds we have received and thus increase our portfolio».
Press Released by VBare Iberian Properties