Advero buys its second residential building in Malaga

Advero buys its second residential building in Malaga

The Socimi has acquired a building with twelve flats in Malaga. This is the second property that the company acquires in Malaga, after incorporating its first asset in this city weeks ago.

The property just bought is located in the Trinidad neighborhood and consists of twelve fully rented houses, as well as eight parking spaces and a commercial space, with the possibility of change to residential use. The operation has been advised by the real estate consultancy Catella.

With this acquisition, Advero now has a portfolio made up of 157 properties for affordable rental. The portfolio is distributed in the provinces of Barcelona with five assets in the municipalities of Rubí, Sabadell and Terrassa; Madrid with three in the neighborhoods of Tetuán and Vallecas; and the two already mentioned in Malaga. These homes are at 96% occupancy and there is no delinquency rate. In the three years since its inception, the company has financed its growth through a combination of capital increases and bank debt.

Along these lines, on June 30, the Advero shareholders' meeting delegated to the board of directors the execution of capital increases for 16 million euros to continue boosting its growth.

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