Socimi de los Capriles to invest 47M euros in coliving and temporary rentals in Spain

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

One of the socimis with which the Capriles operate in Spain is Orinoquia Real Estate

After revolutionizing the luxury residential market with its promoter Gran Roque, the Venezuelan family Capriles opts to vitamin their Socimi Orinoquia Real Estate, specializing in new real estate trends such as colivings or temporary rentals, with an investment of more than 47 million euros, as Axel Capriles explained in an interview with idealist / news.

According to the manager, the total investment will be 47.7 million euros, which will go to seven buildings and more than 205 apartments. Of these buildings, some will go to a coliving, others to tourist apartments and others to extended estate (temporary stays).

The first phase of this investment, which is already underway, will be allocated 30.7 million euros. Of these, 10 million euros have been invested in a building in Malaga and another in Valencia. The remaining 20.7 million euros will go to an asset in Malaga, two in Seville and one in Madrid. “All the cities we choose to invest have a high level of tourism or youth with junior professional profiles,” says Capriles.

Phase two of this investment plan, which according to the manager is being carried out simultaneously with phase one, will be the development of a rental building under the coliving strategy. "The acquisition of these properties will be closed in the next two months, will involve an investment of 17 million euros and, if they reach an agreement with the current owners, they would be located in Madrid and Seville," he says.

“Orinoquia is a socimi created and oriented to capture the real estate psychology of our time, which analyzes the trends, the way in which people use the space, the changes occurred in the concept of property, mobility as an inseparable part of freedom, the changes in the weight of the place in the formation of the identity of the people…, in short, a dynamic socimi that is adapting the real estate product to the way of life of the people today."

— Axel Capriles

“We are in a moment of constant change: people's lives change and with it the way they organize and live space. The identity of such an important place in the seventeenth and nineteenth centuries has yielded to another way of understanding us and that is reflected in the use of space, in real estate dynamics," concludes Capriles when speaking of Orinoquia, which hopes to be quoting in the Alternative Market Stock market "sometime in the first half of 2020".

The Capriles in Spain

In recent years, the Capriles have become one of the most active luxury home investment families through the Gran Roque Capital company. On his back lies the recovery of three promotions in Madrid, in the surroundings of Chueca (two in Fernando VI street and another in Barquillo). At the end of last year, this company started marketing homes on Pablo de Aranda Street in the El Viso area, with the idea of ​​reaching 11,000 euros per m2.

The real estate business of the Capriles in Spain is made up of projects for the promotion and rehabilitation of luxury housing. Its corporate network in Spain is made up of more than twenty companies dedicated to real estate development (Craski Inversiones, Madriski Inversiones, etc.), to the sale of real estate on their own (Gran Roque Capital or Invecap Inversiones Inmobiliaria), Socimis such as Kowo Real Estate, Bluemoon, specialized in tourist apartments, and the rental of real estate on their own (MACL Castellana 56).

All of them add total assets of more than 130 million euros, Invecap Inversiones Inmobiliarias being the most important, with total assets of 53.3 million euros and from which practically the others hang. The latter, in addition, is the sole partner of the newly created socimi.

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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