MK Premium opens four new markets and invests 6M euros in new purchases

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

The company will launch four new offices in Palma de Mallorca, Valencia, Malaga and Seville in the coming months

MK Premium is facing the last tranche of 2019 with changes in its business strategy, new purchases and investment plans for the coming years. The company, led by the Leiva brothers, will launch four new offices in Palma de Mallorca, Valencia, Malaga and Seville in the coming months, which will be added to those already in Barcelona, ​​Madrid, Porto and Lisbon, as Daniel Leiva explained in an interview with idealista / news. In addition, the group has signed the purchase of new assets worth 6 million euros in Barcelona and Porto.

“We want to gain capillarity in Spain in order to expand our possibilities to access good opportunities,” explains Leiva. For this, the company has already completed the launch of these four satellite offices. "We are aware that the phase of the real estate cycle that we face will not be as good as the previous ones, and that good opportunities will be scarce, but the more cities we reach, the more access we will have to these," he says.

The phase change of the real estate cycle is what has led the Leiva brothers to change their business model in the last three months of the year. "We want to add equity, to have recurring income when the favorable cycle ends," they say. That is why the company has recently closed the purchase of assets worth 6 million euros that will be used to rent.

The first one is located at number 192 of Caspe street in Barcelona. In this property, he invested 1.8 million euros and will allocate an amount of 600,000 euros for his rehabilitation and later put on the market for his rental.

In addition to Barcelona, ​​MK Premium also buys in cities near the Catalan capital. This is the case of Badalona, ​​where the company has acquired a lot of eleven houses, of 110 m2 each, for about one million euros. This complex is located at number 1 on Lladó Street, and the project involves rehabilitating all assets and putting them on rent.

As for the Portuguese market, MK Premium is interested in growing in its two main cities. Although in Lisbon it has not recently made any purchase, in Porto the group has made 3 buildings for about 3 million euros, which will add a reform valued at about 500,000 euros. These assets, which will be used for tourist rental, are located in Rua Cândido dos Reis, numbers 203 and 287, and in Rua da Alegria, at number 32.

As for its plans for next year, the group's objective is to return to its normal activity, the sale of real estate assets. For this, the company is considering an average investment of about 1.5 million euros for each place in which they are present, about 12 million euros.

The company founded in 2012 has 235 assets under management that add up to just over 55,000 m2 in total. Its portfolio consists mainly of multi-family buildings and homes in Barcelona, ​​Madrid, Lisbon and Porto, but also a dozen commercial premises and three building plots in the Catalan capital.

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

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