All Iron RE I Socimi announced today in a statement to BME Growth the acquisition of its third asset in Madrid for a total of 2.72 million euros. The company thus reinforces its presence in the capital by positioning itself in different strategic areas. The initial objective is to rehabilitate the asset, which has an area of around 1,000 sqm, for its rental and operation in a medium-term format.
With this operation, the company takes a new step in its growth strategy to position itself in the main cities of Spain, with Madrid, along with Barcelona, one of the main strategic focuses. ALL IRON RE I Socimi currently has other operations underway to close new purchases driven by the capital increase carried out in recent weeks for an amount of 18 million euros, fulfilling the commitment made with its investors to invest in the short term.
The total portfolio of ALL IRON RE I Socimi amounts to 18 properties. This acquisition is the second so far this year, after the purchase of an asset located in Seville, and the company continues to actively analyze the acquisition of new properties to expand its business model. In 2021 alone, it invested more than €100 million in projects and doubled the size of its portfolio.
The asset acquired by ALL IRON RE I Socimi is located at Calle Almagro, 28, an area with a privileged position, close to Paseo de la Castellana and Barrio de Salamanca and which complements that of the other 2 assets that the company has in the capital. The former Hotel Tryp Chamberí, at Calle José Abascal 8 and currently in the process of being refurbished, and the Naitly Cuatro Torres Apartments, in one of the most important business areas of the capital.
The building, which is scheduled to open in the first quarter of 2024, has an area of approximately 1,000 sqm and is distributed over a ground floor and two intermediate floors. The acquired property does not have a façade facing the main street, but rather is structured around an interior patio. The objective of ALL IRON RE I Socimi is to reform it to be leased and operated in a medium-stay format.