North America Fund grumbles It opened its first residence in 2009. rent in european territory. there are floors In the urban development of ValdebebasIt was designed by Morph architecture studio, located in the northeast of Madrid, and the interior was designed by Gärna.
Hines purchased this project from: 395 household one, two and three bedrooms with private terraces or balconies, To the real estate division of Acciona, one of the national infrastructure giants, in 2020 through the Hines European Value Fund 2. Previously in 2019, the company under the control of the Entrecanales family purchased the land for 63 million in 2019 to the Jordan family. for 63 million euros
Common areas in the project Ticket office for online ordering, community bar, gym, paddle tennis courts, swimming pool and co-working space and garden areas. The ground floors are filled with shops: an Aldi supermarket, an HM Hospitales clinic, Santa Gloria bakery, VIPS, Madrigal, 80 Grados and Big Jump Park. as confirmed, there is only one space to complete the entire commercial space.
One of the greatest merits of this urbanization is in Valdebebas, Felipe VI Park. The opening of this 340-hectare park, which is positioned as one of the largest green spaces in Madrid, will be held by the Madrid City Council in the coming days.
25% of rented flats
Only one week before a total of 395 flats, only 100 people rented, about 25% your occupation. A priori is a low figure; however, according to Hines, the business plan plans to reach full occupancy within the next 15 months. This Prices increase from 1,190 euros to 2,056 euros per month, “depending on the view, height and terrace”. “There are 75 different prices,” they confirm. According to data from real estate portals, the average rental price per square meter in Valdebebas stands at 15.72 Euros. The prices of these houses are in the highest band of the market.
Among the possibilities Hines is considering to increase the number of rental properties corporate rental. This service is for companies that need more than one flat during the season to accommodate timely displaced workers. For older people, they may offer laundry, cleaning or childcare to complete their range of services.
According to the building’s corporate page, 122 one bedroom apartments from 39 square meters, 245 two bedroom apartments greater than 60 square meters, 14 times three Surfaces starting from 87 meters and finally 14 duplex penthouses From 74 square meters. All available apartments can be rented furnished or unfurnished.
Vanessa Gelado, manager of Hines in Spain, recalled the current need for rental housing in Spain during the opening of urbanization:If something is missing, there are many apartments for rent. In Madrid, Barcelona and major city centres. This trend at the national level has only been highlighted. We need to develop quality housing in the current economic context.”
Other investments in Spain
Hines was one of them great international executives The most active on the market in recent years. The segments in which it invests the most in both traditional rental and student dormitories are offices, logistics warehouses and residences. Its last major operation was the purchase of the land for the former Airbus factory in Madrid, where it will build a 65,000 square meter logistics park just minutes from Barajas Airport.
The American company landed in Spain after the Barcelona Olympic Games 27 years ago. They currently have more than €1,000 million in assets under management between Madrid and Barcelona.