The investment manager Momentum has decided to bet on a new housing model in Spain. It’s about a hybrid between residential rental, student residences and coliving. A concept that the company itself has called ‘service apartments’, or what is the same, mid-stay aparthotels that offer services that combine the three sectors mentioned above, according to reports The Economist.
Such is the commitment to this idea that Momentum has already invested close to 540 million euros in this segment. A figure that has enabled the development of seven projects (each one is in a different phase of construction) of which 5,327 apartments will result.
“We were the first to develop this product in Spain,” explains Ignacio to the economic medium Pareja Sierra, founding partner and CEO of Momentum. The manager himself affirms that there are already many investors and managers who are getting closer to learning about and developing this type of product.
It should be noted that these projects have to be built in dreams of tertiary use-lodging. Couple explains that their model promotes apartments or studios between 22 m2 and 28 m2 that range between 600 and 800 euros per month. This fee includes services such as electricity, water, heating, internet and cleaning. In addition, tenants can also use some common areas such as a coworking, a social club, a gym, a swimming pool, sports areas, green areas and even a barbecue.
“Another advantage that these complexes offer is that the operators that manage them are professional companies that constantly organize events and activities to create community among guests,” he says. Gabriel Fdez. de Gamboa, founding partner and CCO of Momentum.
Rivas (Madrid) is the place chosen for the first of these projects. Initially, in November the complex should be operational. After this, one located in San Sebastián de los Reyes and another in Valdebebas will see the light.
