The Socimi of the real estate investment fund Patron Capital expands its portfolio in the Levante area. Vandor has bought part of a building from Sareb to open its fourth co-living unit in the Valencian capital. The firm, which already had three other assets in the region, continues to expand its collection of properties in the context of its national expansion plan, which plans to invest between 30 and 40 million euros in Valencia over the next two years, according to Valencia Plaza.
The property consists of 1,335 square meters, a space that Vandor intends to reform and adapt to create 40 rooms of what will be its new co-living unit in the city. The public that the company focuses on is essentially young professionals, digital nomads and students interested in stays of one to eleven months.
After months of negotiations, the closing of the operation was carried out just a few days ago. As agreed, the Socimi will keep the first floor of an entire five-storey complex, in addition to its commercial ground floor, located at number 2 Passeig de les Facultats, which will have a half-stay rental. This street-level business will function as an entrance.
The firm continues to search for this asset class in the area and anticipates that it could soon close another acquisition in the area. Its intention is to try to double the current portfolio with those 30-40 million planned.