The real estate investment group Gesiuris Real Estate, formed by Catalan family offices, has bought the proptech YourHoming Apartments, specialized in the rental of tourist and seasonal apartments in Barcelona.
With the acquisition ---the price of which has not been disclosed---, Gesiuris Real Estate's portfolio exceeds 25 million euros. This group, which invests in high-quality real estate assets, will continue with YourHoming Apartments' business and expansion plan, especially with the acquisition of new buildings in Barcelona to dedicate them to temporary rental. For the consolidation of the project, Gesiuris will count on YourHoming's current director, Natalia Ankudinova.
The operation has closed with the acquisition of the entire capital from YourHoming's six shareholders: Oriol Molas (Orience Internacional), Pere Angerri (Proaudit), Ignacio García (YouStylish.com), the companies Arlet Real Estate and Namargui, and Nacho Castella. The latter is also the general director of Cat Real Estate, a real estate consultancy based in Barcelona that, through its incubator for startups in the sector, has contributed to the development of the proptech since its creation in 2008.
YourHoming passes into the hands of Gesiuris Real Estate after overcoming the impact of the covid crisis in the tourism sector by reorienting its business strategy. The company has been one of the tourist apartment rental platforms that has focused on national and domestic demand. It has offered its apartments for rent in the seasonal format, with a minimum stay of 33 days (32 nights) and a maximum of 11 months, with prices ranging between 1,200 euros and 2,500 euros per month, as advertised on its platform. In this way, according to company sources, YourHoming has maintained an occupancy level of 80%.
YourHoming is the first startup from the Cat Real Estate Proptech incubator to be sold entirely to a third party, according to Nacho Castella, general director of the group. The laboratory for companies specialized in real estate also supports the development of Melibero, a platform for buying and selling homes, and Rentando, an online real estate agency specialized in rental management, which has achieved a growth of 180% in 2021, according to sources from Cat Real Estate.
It has also developed Cat Real Estate Relocation, a startup specialized in providing services to foreigners who want to move to Barcelona, from the most basic areas such as housing or school search, to others of a more legal and administrative nature.
The real estate group Cat Real Estate was born in Barcelona in 2004 and has specialized in real estate portfolio management for local family offices. In the last four years, it has bought 40 premises in Barcelona and 10 in Madrid and now has a mandate from its shareholders to invest another 14 million euros this year. The firm manages assets worth 750 million euros.
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