Argis invests €35M to develop 360 Flex Living units in Madrid

Argis invests €35M to develop 360 Flex Living units in Madrid

Argis adds one more site and advances towards its goal of managing 5,000 Flex Living units under its Flipco! brand. With this investment of approximately 35 million euros, the company will develop 360 flexible units in the Madrid municipality of Tres Cantos.

The project will consist of 15,130 square metres above ground level in Madrid Content City, located in the municipality of Tres Cantos, the largest audiovisual centre in Spain and one of the largest production centres in Europe.

The company is currently working on the design of the project and expects to begin construction work at the end of this year. The product mix will include studio and one-bedroom options with very good qualities, as well as additional services such as coworking, swimming pool, gym, multi-purpose spaces and parking spaces.

"We will continue to invest in Living Solutions to achieve our goal of managing a portfolio of 5,000 units for sale and rent," explains Alejandro Schuvaks, founder and managing partner of Argis.

"With this purchase, we continue to expand our Flex Living Solutions platform in high-growth demographic markets," adds Carlos Zuchhi, CEO of Argis Living and Managing Partner of Argis.

The fund currently manages a portfolio of approximately 1,000 flexible rental units in Madrid and Malaga under its own rental operator, Flipco! After closing 2022 with an investment of €240 million, Argis has a total of 550 units in the first four months of 2023.

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