Orinoquia buys a coliving building in Madrid for €5.7M

Orinoquia buys a coliving building in Madrid for €5.7M

The socimi of the Venezuelan Capriles family has acquired, for 5.7 million euros, a property at number 41 Calle Lérida in Madrid, in the heart of the Tetuán district, which it will transform into apartments for coliving.

The building, which is currently leased as an office complex, has 3,000 square meters of gross rental area (GLA) distributed over five floors. The socimi plans to reposition the asset with the aim of allocating it to residential use, focusing on medium and long-term rentals.

In April 2021, Orinoquia Real Estate began trading on the stock market. More than 10.93 million shares of the socimi specialized in tourist rental and coliving began trading on the Paris stock exchange, specifically in the operator Euronext Access, at a starting price of 1.12 euros per share. The flexibility and lower requirements of the Paris floor led the company to opt for this option over BME Growth, which they also initially considered.

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