Almond Core Centre SOCIMI has commenced trading on the Portfolio Stock Exchange, under ticker ‘ACCS’, with a portfolio valued at €74 million as at 31 December 2024. It is the first Spanish SOCIMI to operate under the Prime Granular Residential (PGR) model, a new asset class in Europe that seeks to consolidate diversified housing portfolios in consolidated urban environments, inspired by Single Family Rentals in the United States.
The company, managed by Almond Real Estate and backed by Tikehau Capital, has focused its strategy on the acquisition and refurbishment of homes in Madrid, within the radius of the M-30, for rental purposes. Currently, its portfolio exceeds 200 units, and its growth plan foresees reaching 500 rental properties, with the aim of optimising profitability and minimising market volatility.
Almond Core Centre SOCIMI is committed to the refurbishment of existing assets as an alternative to new construction, ensuring that urban regeneration is key to improving the supply of rental housing in Madrid. In this line, the company has highlighted that its model allows to reduce the environmental footprint, with an average reduction of 56% in CO2 emissions and 48% in energy consumption, thanks to the implementation of efficient heating systems, high performance windows and the use of recycled materials in its refurbishments.
From Tikehau Capital, Emilio Velasco, Head of Real Assets Iberia and Global co-Head of Real Estate Acquisitions, pointed out that this initiative responds to the growing need for rental housing in Spain and that its model transforms the real estate market with sustainable solutions that benefit both tenants and investors.
Alejandro Ramos, co-founder and co-CEO of Almond Real Estate, highlighted that the IPO of the SOCIMI is an important step for the growth of the granular model in Europe, already consolidated in markets such as the United States. He also pointed out that the backing of Tikehau Capital and the application of advanced technology in the management of the portfolio have enabled the operational efficiency and profitability of the assets to be improved.
With its IPO, Almond Core Centre SOCIMI has positioned itself as a key player in the residential rental market in Madrid, with a strategy based on acquisition, refurbishment and management of existing assets. The company expects to continue to expand its portfolio in the coming years, maintaining its commitment to urban regeneration and sustainable development in the real estate sector.