Libeen has begun trading on the Portfolio Stock Exchange through the creation of a SOCIMI (Spanish REIT) with an initial capitalisation of €4.1 million, equivalent to the equity invested to date in its asset portfolio. The company also has an investment line of €25 million to expand its activity.
In terms of its operating model, Libeen structures a rent-to-own system in which the user selects the property and the company formalises the purchase. The monthly payment is around €1,250, and up to 30% can be allocated to the future purchase process. According to the company's own data, users who complete the programme accumulate average savings of more than €43,000 and subsequently access mortgage financing.
The company plans to use these €25 million to purchase between 130 and 150 homes in more than ten Spanish cities, including Madrid, Valencia, Barcelona and Malaga. Libeen is planning a second phase of growth with an investment of over €100 million, aimed at reaching a portfolio of more than 1,000 homes by 2026.
The IPO is part of the SmartHousing 2030 strategic plan, which aims to reach more than 10,000 homes by 2030 and begin its international expansion in Lisbon and Porto in 2027.
The board of the SOCIMI's management company is made up of co-founders Sofía Iturbe and José Manuel Cartes, together with Enrique Linares and Álvaro Falcó. The investment committee is chaired by Juan Velayos, founder of JV20 and former CEO of Neinor Homes. Partners and investors include Andbank, through Actyus and MyInvestor; the Cusp Capital fund; Benjamin Hellweg; and Iñigo Juantegui.
Libeen plans to apply an ESG framework to the SOCIMI, subject to external audits and verified metrics, and is considering incorporating different investor profiles, from institutional investors to small savers through a retail tranche.