The Flexible Accommodation scene in Barcelona has received a new boost with the recent operation carried out by the socimi All Iron RE I. The company has formalised the purchase of a 97-unit aparthotel, the Capri by Fraser, strategically located in the dynamic 22@ technology district of Barcelona, for a total of 35 million euros..
This strategic acquisition marks an important milestone for All Iron, consolidating its position as a the leading listed institutional investor in the short and medium term flat segment in Spain, with a portfolio of more than 300 million euros in value.. The company, which already had another property in Barcelona, thus reinforces its presence in one of the most attractive locations for this type of accommodation.
In order to carry out this important operation, All Iron has resorted to various sources of financing. On the one hand, it has relied on a recently executed capital increaseand, on the other hand, has assured bank financing through two mortgage-backed loans of 10 million euros each, granted by Bbva and Abanca.. These loans, with a 180-month maturity and an interest rate of Euribor (twelve months) plus a spread of 1.5%expire in February 2040.
The Capri by Fraser aparthotel will be managed by Líbere Hospitality Groupa company that stands out for its business model based on the implementation of new technologies.. This collaboration promises a modern and efficient experience for aparthotel guests.
With this addition, All Iron's portfolio totals close to 1,000 units across 19 assets.. Approximately half of their properties are located in prime locations in Madrid and BarcelonaThis underlines its focus on key markets.
This expansion comes at a time of growth for All Ironas reflected in its results for the first nine months of 2024, in which it its revenues reached 5.8 million euros, 50% more than in the same period of the previous year, allowing it to double its gross operating profit (ebitda) to 3.8 million euros.. This increase is attributable to the improvement in activity and the contribution of rents from three new assets in Barcelona, Madrid and Bilbao. Of particular note was the growth of 84% in accommodation rental income compared to the same period in 2023.
The acquisition of the Capri by Fraser aparthotel not only expands All Iron's presence in the competitive Barcelona market, but also reinforces its leadership in the flexible accommodation sector in Spain, offering a strong value proposition for both investors and guests.
