One more asset for the portfolio of apartments for rent for young people belonging to Excem Capital. The company, which debuted on the Alternative Stock Market (MAB) last Thursday, has completed the acquisition of a building in Madrid. The amount of the operation has been placed at 7.5 million euros, according to the company reported to the MaB.

The asset is located at number 15 on calle Doctor Cortezo, in the Madrid, and is composed of ten apartments and two leased premises, with a total constructed area of ​​2,096 square meters. The purchase has been financed by 40% with cash available from the company and 60% with a 10-year mortgage loan with Banco Sabadell.

Excem Capital began its development in 2015 specializing in the investment in residential urban real estate that, after a reform, puts on the rental market for students and young professionals.

The company, which debuted at MaB on Thursday with a revaluation of 1.4%, is controlled by the Israeli family Hatchwell. In addition to Excem Capital, which has a portfolio of 28 assets in Spain, the Hatchwells operate in the Spanish real estate with the tourist partner Situr (specialized in hostels) and with the luxury promoter Lov Real Estate.

SOURCE: EjePrime