Real estate investment and asset management platform Argis has put its operating portfolio of coliving in Madrid's Valdeacederas neighbourhood, in the Tetuán district, up for sale. This area, known for its proximity to Madrid's main business centres, has seen an 8.5% increase in the compound annual growth rate of the residential rental market from 2017 to 2023, an increase that exceeds the Madrid average by 500 basis points.
The portfolio, the sale of which is being advised by CBRE, which includes almost 4,800 square metres of built space, consists of 143 individual units spread across seven buildings, the majority of which are newly constructed or refurbished. Currently, 110 of these units are operational and managed by Flipco!, while the remaining 33 are under development, with delivery expected by the end of this year.
The company points out that all the buildings are mainly residential, with a small part destined for tertiary use, but compatible with residential.