The pan-European fund DFI (Deutsche Financial International) has redoubled its commitment to the affordable rental market in Spain with an avalanche of purchases that, for the past two years, has been carried out with absolute discretion, a strategy that has allowed it to build a portfolio of nearly 2,000 residential properties under the Niding brand.
Since September 2020, the company has carried out more than half a dozen operations, which have totalled close to a thousand homes, requiring an outlay of just under 70 million and which have enabled it to build a portfolio with a presence in almost all of Spain, from Madrid to Granada, Almeria, Castellon, Murcia and Asturias, among other locations.
The last of these acquisitions was closed just a fortnight ago, on 24 November, when Niding acquired a new portfolio of 198 properties, all located in Madrid, for 21.2 million euros. In the coming months, the company's business plans include doubling the pace of acquisitions, as the company's objective is to acquire a portfolio of 5,000 assets by the end of next year.
DFI's commitment to affordable rentals through Niding is an additional strategy to the one it carried out through Elix Residencial, a socimi specialising in residential rentals in the centre of Madrid and Barcelona, where it had a joint venture with KKR and Altamar, until the sale of the socimi to Allianz last year.
Niding's rapid growth has allowed the company to almost double the value of its portfolio during its first year of life, going from 49 to 98.3 million euros between the end of 2020 and the end of 2021, the last full year with audited accounts. These figures make Niding one of the leading affordable housing portfolios in Spain.