Home Capital sells residential building in Chamberí for €4.9M

Home Capital sells residential building in Chamberí for €4.9M

The socimi has closed the sale for €4.9 million of a property located at Calle Santa Engracia 96, in the Chamberí district (Madrid), as reported to BME Growth.

Home Capital acquired the property at the beginning of 2021 for €2.9 million with plans to build a new building with fourteen homes. The socimi had a portfolio valuation at year-end 2022 of €90.8 million, a figure 3% higher than the €88.2 million valuation recorded a year earlier by valuer Rics Valuation Standards.

Home Capital Rentals had 97 flats in operation at the end of last year, a figure much higher than the 54 units at the end of 2021. This has allowed the socimi to increase revenues to 2.1 million euros in 2022, compared to 822,000 euros at the end of 2021.

At the end of last year, the company had six active buildings in Madrid and Barcelona with average occupancies of around 85%, except in the General Margallo 33 complex in Madrid, where it had an average occupancy of 77%.

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