Gavari acquires a residential building in Madrid for €1.7M

Gavari acquires a residential building in Madrid for €1.7M

The Socimi specialized in rental housing in secondary areas has closed the purchase of a property for 1.7 million euros in the Madrid neighborhood of Ciudad Lineal.

The property, which has eight homes, is located at numbers 38-40 on Calle Hermanos de Pablo. The Socimi plans to soon complete the renovation project for the building, starting the renovation works. The objective is to transform the property so that it can house up to 24 units, as the company has notified BME Growth. The asset also has six commercial premises on the ground floor.

This is Gavari's second purchase in Madrid in the last three months

This acquisition is in addition to other recent purchases of real estate by Gavari in the capital market. The Socimi closed in September the acquisition of a property located at number 42 of Pinos Alta, in the Madrid neighborhood of Tetuan, where Gavari was made for 1.9 million with a block of 1,130 square meters distributed over three floors and that has three commercial premises and fifteen rental homes.

The two new properties in Madrid are added to the company's asset portfolio, which adds another seven residential buildings in the capital, Getafe and Malaga. All the real estate investment of the Socimi is made up of urban properties intended for leasing.

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