Vandor Real Estate buys a building in Barcelona for €9.2M

Vandor Real Estate buys a building in Barcelona for €9.2M
396 Carrer de Còrsega (image by Google Maps)

Vandor, Patron Capital's socimi, which specialises in the purchase of buildings for short and medium stays, has paid €9.2 million in the acquisition of a residential building in the centre of Barcelona, as reported by the company to Euronext Paris.

The property, with a total of 3,117 square metres, is located at 396 Carrer Còrsega, in the 'Dreta de l'Eixample' district, very close to Avenida Diagonal and Paseo de Gracia. The asset consists of sixteen homes and a commercial premises.

The transaction, according to Vandor, has been financed with its own funds, although the company expects to obtain bank financing in the coming weeks through the subscription of a loan with mortgage guarantee on the asset.

This is the first transaction closed by the socimi after the change in its management. In mid-December, Arnau Osorio, who has been linked to Vandor since 2014, took over from Xavier Robert as CEO of the company following an Extraordinary Meeting of the socimi.

The transaction represents a continuation of the socimi's roadmap, which last year already disbursed €32.5 million in the purchase of residential assets to boost its growth plan for the Spanish market, where it acquires assets to be managed by its coliving subsidiary Cotown.

In recent months, Vandor has already announced its intention to strengthen its presence in Barcelona and Valencia, in parallel to its arrival in Bilbao. It also indicated its intention to enter the Madrid market, where it plans to invest between forty and sixty million euros in the purchase of several buildings.

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