All Iron RE I Socimi has announced on BME Growth the sale of a property located in Madrid, at calle Matilde Landa, number 22, for a total of 4.25 million euros. This building consists of 20 flats and approximately 1,900 square metres.
In recent years, the property has been used for short and medium term rentals. The total investment in this asset, including acquisition and refurbishment, amounted to €3.5 million since its purchase in 2018, and has generated a return of close to 14%.
The recent transaction confirms the independent valuation of the portfolio, which valued this asset at EUR 4.24 million as at December 2022. The sale price represents a value 0.24% higher than the independent valuation. At the end of last year, the socimi had a portfolio valued at 241 million euros.
Portfolio of assets totalling some 1,122 units
Following this sale, All Iron RE I Socimi has an asset portfolio comprising 19 properties, totalling approximately 1,122 units. Of these assets, seven are in full operation, located in Vitoria, Bilbao (2), San Sebastian, Malaga, Cordoba and Pamplona. In addition, there are four properties under construction, located in Barcelona, Madrid Chamberí, Bilbao Ledesma and Alicante, and another eight under development, located in Valencia, Seville (2), Malaga (2), Madrid (2) and Budapest.
During 2022, the company has implemented a significant strategy to strengthen its portfolio, focusing on major cities such as Seville, Madrid (in Almagro and Alcántara streets) and Málaga, making acquisitions worth approximately 44 million euros. In addition, work began in Bilbao (Calle Ledesma), Madrid (Calle José Abascal), Barcelona (Ronda San Antoni) and Alicante (Calle Gerona).
As for the assets under development, they are expected to be operational during the period 2023-2024, with the exception of Málaga Beatas, Madrid Almagro and Madrid Barrio Salamanca, which are expected to be operational in 2025.