The company, which debuted in the MAB last thursday, has taken over a building consisting on ten apartments and two business premises.
One more asset for Excel Capital´s portfolio of apartments for rent for young people. 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 7.5 million euros, as reported by the company to MAB.
The asset is located at 15 Doctor Cortezo street in the Spanish capital and consists of ten apartments and two leased premises with a total built area of 2,096 square meters. 40% of the purchase was financed with money available from the company and the remaining 60% with a 10- year mortgage loan with Banco Sabadell.
Excem Capital began its development in 2015 specializing in investment in residential urban real estates that, after a reform, are launched to the rental market for students and young professionals.
The company, which debuted at MAB on Thursday with a 1,4% reassessment, is leaded by the Israeli Hatchwell family. In adition to Excem Capital, which has a portfolio of 28 assets in Spain, the Hatchwells operate in Spanish real estate with the touristic company SITUR (specialized in hostels) and with the luxury developer Love Real Estate.