All Iron RE I Socimi has announced in a statement to BME Growth the acquisition of its fourth asset in Madrid, in the Salamanca neighbourhood, for 33 million euros. This is a very significant step forward in the company's growth plan, as it is the largest transaction to date.
The property is located in the heart of Madrid's Barrio de Salamanca, at calle Alcántara 25, and has a total surface area of around 12,000 sqm, distributed over two floors below ground level, a ground floor, four intermediate floors and a rooftop terrace.
All Iron RE I Socimi will carry out a repositioning project to create an apartment complex with between 90 and 120 serviced apartments. These will be leased to both the tourist and corporate sectors on a short and medium term basis. In addition, the building will have 64 parking spaces, a commercial space of more than 1,000 sqm and a rooftop swimming pool. The serviced apartments complex is scheduled to open in late 2025 or early 2026.
This purchase is a very important step towards having a leading presence in this type of accommodation in Madrid, due to its location in one of its prime neighbourhoods, the size of the building and the uniqueness of the project.
The company strengthens its presence in the country's main cities (Madrid and Barcelona), where it already has around 40% of its portfolio. This transaction brings the total number of properties in All Iron RE I Socimi's portfolio to 20.
With this transaction, ALL IRON RE I Socimi boosts its commitment to Madrid as one of its main investment focuses, where it already has three other properties, in the districts of Chamberí, Almagro and Tetuán. The company has invested close to 80 million euros in the capital in the last two years, including acquisitions and repositioning projects.
In total, the company has acquired properties representing an investment of 190 million euros in this period in cities such as Barcelona, Malaga, Seville, Bilbao and Pamplona. After this transaction, the total portfolio of All Iron RE I Socimi amounts to 20 properties.
