Witheni RCajal acquires two properties in Madrid that will be used for coliving

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

Socimi Witheni RCajal acquires two properties in Madrid that will be used for ‘coliving’

The two assets add up to an area of ​​2,000 square meters and allow the company to position itself in a growing market segment.

Witheni RCajal bets on coliving. The socimi has acquired two assets in Madrid that will be dedicated to coliving. The two buildings, located on Fomento and Río streets, total an area of ​​2,000 square meters. The amount of the transaction has not transcended.

With these two operations, the socimi, "promotes a new growth strategy based on a business model that offers higher returns than other residential products," explained the company administrator, Rafael Núñez.

Thus, the studios and apartments that Witheni will manage will be used for temporary rental by professionals between 25 years and 50 years. The remodeling project will begin in mid-2020 and its commercialization will begin in 2022. In total, it will have 50 units and more than 330 square meters dedicated to common spaces.

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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