Home Capital buys a property in the center of Madrid for €4.6M

Home Capital buys a property in the center of Madrid for €4.6M
Calle de Apodaca, 20, Madrid

Home Capital Rents has invested 4.6 million euros in the acquisition of this property located in the center of Madrid. The company now has a total of twelve assets, eight in the capital and four more in Barcelona.

The building bought by the Socimi in Madrid, through the acquisition of the company Edificio Apodaca 20 SL, is located at 20 Apodaca Street, in the Justicia neighborhood, Centro district, in Madrid. With 1,592 sqm built, the asset has fourteen apartments and a business premises. The acquisition has been financed through its own resources, according to what the company has communicated to BME Growth.

Home Capital has increased its income to 325,730 euros at the end of the first half of the year, compared to 142,447 euros in the same period last year. However, in the first half of the year, the Socimi had not yet managed to abandon the losses, since in the period from January to June it reaped red numbers for 421,250 euros, 28% less than the same period of 2020.

The company foresees improvements in results and income as the different apartment buildings it is promoting come into operation. In November, the Villarroel 173 bis complex, in Barcelona, ​​which has ten apartments, was planned to enter In the month of December, the asset located at number 9 Calle Colomer, in Madrid, with 22 floors began to operate.

As of September 30, 2021, Home Capital had allocated 56.1 million euros to the acquisition of ten properties with 183 apartments, which are in different stages of development.

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