Argis expands its portfolio with a focus on Madrid. Through Argis Living, the promoter created by the founders of the manager, the company has announced a new project in the heart of the capital: the development of 200 rooms for rent.
The Argis plan goes through invest close to 40 million euros in buying and reforming a 11,800 m2 building located on Cavanilles street, in the Retiro district. According to the company, the property has capacity for 200 rooms (all were for lease) and the implementation of additional services, such as a gym, restaurant, multipurpose spaces and parking.
These 200 new rooms will be added to its portfolio, currently made up of more than 2,500 flexible apartments for sale and rent (BTS and BTR). Of these, some 1,000 flexible apartments are for rent, are located in Madrid and Malaga and are operated by the group’s own brand, called Flipco!
Alejandro Schuvaks, founder and managing partner of Argiswhich in the last eight years has developed projects for more than 200,000 m2 in different types of promotions for sale, rental and the tourism sector, assures that “2023 will be a year of consolidation. We are going to continue investing in ‘Living Solutions’ to achieve our objective of managing a portfolio of 5,000 units”.
At the end of 2021, the manager announced the launch of an investment fund to invest 200 million euros in housing in Spain.