Incus Capital has acquired a property at number 69 Calle Mesón de Paredes, in the heart of Madrid, to be used for mid-stay rentals as part of its investment line in living assets. The operation has had the advice of the consulting firm TC Gabinete Inmobiliario.
The building, built in 1890 and completely renovated in 2018, has an area of around 1,500 square meters distributed over five floors. It has a total of fifteen apartments, in addition to a commercial premises, which the new owner will exploit for half-stay rentals or coliving. Industry sources point out that the transaction amounts to nearly seven million euros.
"I consider Incus Capital's commitment to this type of asset to be managed in the medium-term rental modality, since it is a product that is increasingly in demand, offering interesting returns with much simpler management and less regulation than other alternative modalities to traditional rent", says Mariano Valcárcel, deputy director of TC Gabinete Inmobiliario.
Incus Capital is a real estate fund manager based in Madrid with offices in Lisbon, Milan and Paris. Since its creation, in 2012, the firm has advised capital for more than two billion euros and has participated in more than ninety transactions. The volume of investments in which the group participates is between ten million and fifty million of euros. The manager works with the main real estate assets, although in recent months it has focused on residential.