- Portfolio of affordable rental units across major Spanish economic growth markets, targeting broad demographic of tenants with satisfactory credit ratings.
Global Pielago was set up as a real estate investment vehicle to invest in the Spanish property market. Global Pielago follows a holistic strategy designed to create long-term institutional platform with best-in-class management and sustainable income, providing tenants with improved quality product and service at affordable rental levels assembling 5,000-Unit Portfolio of Single Family Residential. The Company’s commercial name is “Niding”, and hence, GLOBAL PIELAGO SOCIMI, S.A. will operate under this name.
Product and Service
Acquisition and Origination
- Disciplined acquisition strategy focused on quality asset and location selection (c. 13,000 units screened; bids submitted on under 20%).
- Pricing at discount to market valuations and replacement costs from motivated financial sellers seeking to liquidate large holdings.
Sourcing and Selection Criteria
- Assets Type: Residential rental assets that are: (i) vacant or (ii) occupied excluding social contracts or long leases significantly below market.
- Pricing: Entry pricing at significant discount to market valuations (25%+) and replacement costs. Focus on relationship-based direct off-market sourcing with key targets including servicers, banks and private equity firms.
- Location: Strong rental markets with high sustainable yields and attractive demand drivers (population growth, household formations, job growth, quality of life). Key markets include Madrid, Barcelona, Valencia, Alicante, Mallorca, Málaga and Seville.
- Portfolio Aggregation.
- Efficient Management.
- General Information
- Information Document
- Financial Information