ALL IRON RE I Socimi announced today in a statement to BME Growth the entry into the accommodation market of the city of Malaga through the purchase of a property in the historic center of the city with a total investment of 7 million euros. This type of urban accommodation is intended for short and medium stays and incorporates an innovative and differential offer from traditional aparthotels.
With this operation, ALL IRON RE I Socimi takes a new step in its growth strategy, the objective of which is to establish itself in the main cities of Spain. Throughout 2021, ALL IRON RE I Socimi has acquired a total of 7 assets that add up to an investment of close to 70 million euros.
After this operation, the company's total portfolio amounts to 15 properties, 6 of which are in operation -in Madrid, San Sebastián, Vitoria, Bilbao (2) and the recently acquired in Malaga-, 1 under construction in Córdoba - which is expected to come into operation at the end of 2021- and another 8 in development, which are expected to come into operation between 2022 and 2023.
The company thus continues with its growth process by actively analyzing the acquisition of new properties to expand its business model, with special focus on cities such as Barcelona or Madrid, where it has recently acquired the Hotel Tryp Chamberí, and other Spanish capitals.
Entry into Malaga
The asset acquired in Malaga is in the heart of the city, located at Calle Granada, 76, a pedestrian street in the historic center. It has an approximate area of 1,350 sqm, and is made up of 20 apartments, currently in operation. Additionally, it has three commercial premises, totaling 152 sqm. The company has acquired this property for an amount of 7 million euros.
Savills Aguirre Newman has acted as an intermediary for ALL IRON RE I Socimi and, on the other hand, Eurobienes has advised the seller.