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Spanish REIT, Elix, invests €34M in Barcelona properties.

Elix Vintage Residencial SOCIMI (ELIX VRS) has formalised the acquisition of four freehold buildings in Barcelona on Calle Comerç, Calle Ribera, Avenida Gran Vía de les Cortes Catalanas and Calle Notariat.

The fund paid €34M for the assets and received financing from CAIXABANK with 65% LTV, 5 years duration and margin of 3-month EURIBOR +1.85%.

The Spanish REIT was listed by KKR, Altamar and London-based Deutsche Finance Group on the 11th of July at a price of €0.95 per share and a market cap of €43 million, as published by SpanishREIT.com.

Elix Vintage Residencial Socimi, S.A., the newly listed REIT, aims to create a diversified portfolio of rented residential properties located mainly in the cities of Madrid and Barcelona. Its current portfolio comprises 4 buildings in ownership and purchase agreements for the acquisition of another 8 buildings.

 

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