Home Capital sells building in the centre of Madrid for €4.9M

Home Capital sells building in the centre of Madrid for €4.9M

Home Capital Rentals has sold a property in the centre of Madrid for a total of €4.9 million, as the socimi informed BME Growth on Thursday.

Specifically, Home Capital has formalised "an earnest money contract for the potential sale", before 30 June, of the building located at 96 Santa Engracia street in Madrid, in the Almagro neighbourhood, in the Chamberí district. For the time being, the company has received a deposit of close to half a million euros.

This property was acquired by Home Capital just over two years ago for 2.9 million euros. At the beginning of February 2021, when it announced the purchase of the building, the company also announced that it was planning the partial demolition of the asset and the subsequent construction of a new building with 14 homes with a floor area of more than 1,000 square metres.

Home Capital is a socimi specialising in the purchase and refurbishment of residential real estate assets for rental in the mid-market. The company currently has a total of 11 properties in Madrid (8 assets) and Barcelona (3), according to its website. As of 31 December 2022, the valuation of the real estate assets owned by Home Capital amounted to 90.9 million euros.

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