Letter
7 min
Sep 12, 2026
Why we bought 32 homes in Salamanca
The price, the tenants, the repairs, and what Calle Lagasca 48 adds to your payout.
Javier Molina
Head of acquisitions
Has bought or sold more than 1,400 apartments across Madrid and Valencia.
32
homes
bought on Calle Lagasca, all with their tenants
Why this building
Calle Lagasca 48 is a six-story stone building in Salamanca, one of the steadiest rental streets in Madrid. Thirty-one of its thirty-two apartments were let when we bought it, most on long leases.
The price worked because the building needed work the previous owner did not want to do: two elevators, the roof terrace and the shared heating.
What we will do with it
We keep the tenants. Repairs are planned floor by floor so nobody has to move out, and the last empty apartment is being refurbished now.
Once the works are done, the building should pay roughly the same share of rent per euro invested as the rest of the Madrid portfolio.
Calle Lagasca 48 joins the monthly rent roll from this month. You will see it on your next statement.
02·L
In this letter
3 takeaways
Key takeaways.
31 of 32 apartments were let when we bought the building.
Repairs run floor by floor, nobody moves out.
Calle Lagasca 48 joins the rent roll this month.
