All Iron buys an apartment building in Malaga for €11.2M

All Iron buys an apartment building in Malaga for €11.2M

This is the Socimi's second investment in Malaga, where it invested seven million in a property last August.

The property is located in the center of the municipality, in the Plaza del Siglo, at the beginning of Molina Lario street, and has an area of 2,159 sqm.

The group's objective is to build 21 apartments on the five floors in which the building is distributed, which also has two commercial premises. This operation follows the one that All Iron carried out last August, when it invested seven million euros in the purchase of a building on Granada Street with twenty apartments and three commercial premises.

With this operation, the Socimi takes a new step in its growth strategy of settling in the main cities of Spain. Throughout 2021, the company has acquired a total of eight assets that add up to an investment of more than 81 million euros. The latest property acquired in Malaga is located in one of the main commercial areas of the city and is intended for national and international tourists.

The total portfolio of the company amounts to sixteen properties, six of which are in operation (in Madrid, San Sebastián, Vitoria, Bilbao (2) and Malaga), one under construction in Córdoba, which is expected to come into operation at end of 2021, and another nine in development, which are expected to come into operation between 2022 and 2024.

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