In Q4 2018 ARGIS acquired 3 neglected buildings with squatters in prime locations in Malaga City from a local bank. ARGIS emptied the buildings, completed the licensing process (from residential to tourist apartments) and executed complete refurbishments on all of them by Q3 2020. Merced building is now the largest tourist apartment block within Malaga’s historic old town. Buildings are being operated by Gabirol Apartments obtaining outstanding reviews.
Duende is a spectacular building with an even better location with serviced Apartments license. Purchased as an occupied residential building, ARGIS refurbished, equipped and transform the building to a fully equipped automated tourist apartment building.
In Q4 2019, ARGIS acquired a 127-loft complex of two buildings poorly rented from a local bank. ARGIS value creation plan consists of emptying the building from low quality tenants with low rent and high delinquency, refurbish the building and sell the units to end users.
DOWNTOWN MADRID BUILDINGS DIVINO PASTOR - MADRID, SPAIN
In Q4 2015, ARGIS acquired the building as an office (2,000 sqm office building). Located in Malasaña, building was refurbished and repurposed to tourist apartments (the only use conversion ever approved in Madrid). The corresponding procedures were carried out for the change of use to tourist apartments and it was totally sold in 2017 to a family office.
DOWNTOWN MADRID BUILDINGS NÚÑEZ DE BALBOA - MADRID, SPAIN
In Q4 2015, ARGIS acquired the property as a 600 sqm office located in Salamanca as ARGIS first deal and proof of concept for refurbishment projects in Madrid. Office was refurbished and rented long term, project was sold after value creation plan was completed in 2019.
ARGIS remodelled 24 apartments and houses that totalled 2.040 square meters, acquired from a local bank in different locations of Málaga, Valencia and Cádiz. The apartments were abandoned and in ruinous conditions. Project was aimed to be a proof of concept to test different geographic regions within Spain.
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