Vitruvio Real Estate

What Vitruvio Real Estate does

Vitruvio Real Estate SOCIMI S.A. is a publicly listed Spanish real estate investment company (SOCIMI) that operates a diversified rental property portfolio across five asset categories: residential (26%), commercial (39%), office (27%), industrial/logistics (8%), and — as of 2026 — hotel. Founded in 2014 and listed on BME Growth since July 2016 (ticker: YVIT), the company is externally managed by Abante Asesores S.A. and targets conservative, long-term patrimonialist returns. As of March 2026, the portfolio carried a gross asset value of €370M, a NAV of €270M (€17.14 per share), 5.40% rental yield, 99% occupancy, and 312 tenants across ten Spanish cities with a Madrid concentration.

The company's business model rests on three pillars: (1) acquiring and operating rental real estate in cities with population growth, financed through a mix of post-IPO capital increases and "contribution" (aportación) operations in which property owners in co-ownership (proindiviso) situations exchange real estate for Vitruvio shares — a differentiated integration mechanism that has driven mergers with Consulnor (2016), Única Real-Estate (2018–19 OPA), Fidelgés (2020), and Mercal/Garza/Alkigar (2025); (2) running a high-occupancy, low-leverage portfolio (debt-to-property at 14.6–28% versus a 33% statutory cap, with 70% of properties BREEAM certified); and (3) distributing predictable quarterly dividends (2026 target of €0.58/share) to a shareholder base that has expanded from 108 at IPO to ~1,000 by 2026.

Revenue is generated primarily through recurring rental income from a diversified tenant roster that includes credit-grade anchors (Nike, Zara, Carrefour, BBVA, CaixaBank, Basic-Fit) as well as residential and industrial long-tail tenants, supplemented by opportunistic property disposals. Investor access is provided via BME Growth trading (liquidity provider Banco Inversis, registered advisor Deloitte, auditor MAZARS), and the company maintains a deliberately small internal team structure consistent with its asset-light, externally managed SOCIMI model.

Name

Vitruvio Real Estate

Legal name

VITRUVIO REAL ESTATE SOCIMI S.A.

Website

https://vitruviosocimi.com

Company type

Public

Founded year

2014

Operating status

Operating

Headcount range

1–10 employees

Short description

Vitruvio Real Estate is a publicly listed Spanish SOCIMI (BME Growth: YVIT) that owns and operates a €370M diversified rental real estate portfolio across residential, commercial, office, industrial, and hotel assets in Spain, serving both retail/institutional investors and property owners seeking liquidity solutions for co-owned assets.

Ownership category

akta.pro rank

Headquarters

HQ city

Madrid

HQ country

Spain

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. Rental Income: Recurring rental income from a diversified portfolio of residential, commercial, office, and industrial properties. Income is generated through long-term leases with tenants across multiple sectors.
2. Property Disposals: Occasional sales of properties (disinvestments) from the portfolio, sometimes above valuations (22.3% above Savills valuations in 2024).

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels7 records

Core offering

Vitruvio Real Estate SOCIMI is a Spanish listed REIT that invests in, owns and leases a diversified portfolio of properties—residential (26%), commercial (39%), office (27%), industrial/logistics (8%) and, since 2026, hotel—located across Spanish cities and managed externally by Abante Asesores S.A. In parallel, the company offers a divisibility and liquidity solution for individual and corporate property owners in undivided co-ownership (proindiviso), who can contribute their real estate assets in exchange for newly issued Vitruvio shares, thereby dissolving the co-ownership and becoming shareholders of the listed SOCIMI.

Product overview

Vitruvio Real Estate SOCIMI is a conservative, long-term oriented real estate investment and wealth management company listed on BME Growth since 2016. The company operates a diversified portfolio of rental properties organized into five main categories: Residential (26%), Commercial (39%), Office (27%), Logistic and Industrial (8%), and Hotel properties (new sector as of 2026). The portfolio includes residential buildings, commercial retail spaces, office buildings, industrial warehouses, and hotels across Spanish cities including Madrid, Barcelona, Málaga, and others. The company also offers property heritage management services providing divisibility and liquidity solutions for co-ownership situations. Key properties include Sagasta 24, Ayala 101, Fernández de la Hoz 52, and Goya 5-7, with gross property values reaching €370M as of March 2026.

Differentiator

Problem solved

Functional benefit

Products and services

• Residential rental portfolio Diversified residential rental housing units located across major Spanish cities; represented 26% of the property portfolio as of March 2026. Targets individual tenants seeking professionally managed rental housing in prime Spanish locations.
• Commercial rental portfolio Commercial retail premises leased to national retail and consumer brands (e.g., formerly Mercial Properties tenants); represented 39% of the property portfolio as of March 2026. Targets established Spanish retail chains and commercial tenants.
• Office rental portfolio Office space leased to corporate tenants across Spanish cities; represented 27% of the property portfolio as of March 2026. Targets businesses and professional firms seeking centrally located, BREEAM-certified office space.
• Industrial and logistics rental portfolio Industrial and logistics properties leased to logistics operators and industrial tenants; represented 8% of the property portfolio as of March 2026. Targets logistics companies and industrial occupiers across Spain.
• Hotel property rental portfolio Hotel properties leased to hospitality operators, entered in 2026 via the Numa hotel acquisition; expands Vitruvio's diversification into hospitality real estate alongside residential, commercial, office and logistics.
• Proindiviso divisibility and liquidity service Service for owners of Spanish real estate held in undivided co-ownership (proindiviso) who can contribute their property to Vitruvio in exchange for newly issued listed shares, dissolving the co-ownership and converting illiquid real estate into a tradable SOCIMI shareholding. Targets individuals and families holding undivided shares of inherited or jointly acquired property.

Quantifiable outcome

• 99% occupancy rate
• +5 more outcomes

Named customers12 records

Segments6 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered minor and core.

• Primero H SOCIMIminorStrategic or Co-development PartnerPrimero H is a social SOCIMI in which Vitruvio participates. It aims to provide affordable rental housing to people in residential vulnerability through the Fundación Hogar Sí. ASOCIMI serves as investment advisor, and legal advisors work pro bono.
• Mercal Inmuebles SOCIMIcoreStrategic or Co-development PartnerThrough a merger operation in 2025, Vitruvio absorbed Mercal Inmuebles SOCIMI, adding commercial properties valued at €62.3M including spaces leased to major brands.
• Polígono Garza 2000 S.L.coreStrategic or Co-development PartnerThrough merger operation (Proyecto Nave) in 2025, Vitruvio absorbed Polígono Garza, adding industrial properties in Madrid valued at €28.5M.
• Alkigar S.A.coreStrategic or Co-development PartnerThrough merger operation (Proyecto Nave) in 2025, Vitruvio absorbed Alkigar, adding residential and industrial properties in Madrid.
• Única Real-Estate SOCIMIcoreStrategic or Co-development PartnerIn 2018, Vitruvio launched a friendly takeover bid (OPA) for Única Real-Estate SOCIMI, acquiring 36 commercial properties in Madrid and expanding shareholder base. The operation was completed in June 2019 with 89.33% acceptance.

Scale indicators14 records

Recent moves11 records

Expansion highlights6 records

Emerging players

• Primero H SOCIMI: Spanish social SOCIMI in which Vitruvio holds a participation, providing affordable rental housing through Fundación Hogar Sí. Tangentially comparable as a small Spanish SOCIMI but with a very different social-impact mandate.
• Elix Vintage Residencial SOCIMI: Spanish SOCIMI focused exclusively on residential rental in Spain. Comparable to Vitruvio's 26% residential exposure and recent granular residential strategy (e.g., Clikalia partnership).

Direct peers

• Colonial SOCIMI: Spanish SOCIMI specialized in prime CBD office properties, primarily in Madrid, Barcelona, and Paris. Directly comparable to Vitruvio's office segment exposure (27% of portfolio) and Madrid concentration.
• Domo Activos SOCIMI: Small-cap Spanish SOCIMI focused on diversified residential and commercial rental assets. Closest scale and strategy peer to Vitruvio, also listed on BME Growth and pursuing similar patrimonialist approach.
• Merlin Properties SOCIMI: One of Spain's largest SOCIMIs, with diversified offices, retail, logistics, and data centers across Spain and Portugal. Closest large-cap peer to Vitruvio's diversified property mix and Spain-centric strategy.
• Castellana Properties SOCIMI: Spanish retail-focused SOCIMI with shopping centers and retail parks across Spain. Comparable to Vitruvio's 39% commercial/retail exposure and Iberian mid-market positioning.
• Lar España Real Estate SOCIMI: Spanish SOCIMI listed on the Madrid continuous market, focused on retail and office assets across Spain. Directly comparable to Vitruvio as a domestic rental REIT targeting retail and office income, but operating at significantly larger scale.
• Inbest Real Estate SOCIMI: Small Spanish SOCIMI managing prime retail and office assets in Madrid. Comparable to Vitruvio's strategy of curating high-quality Spanish rental real estate with a conservative, long-term orientation.

Others

• Clikalia: Spanish proptech platform for buying and selling residential property. Vitruvio's 2024 partner for granular residential investments, making it an ecosystem counterpart rather than a direct competitor.
• Numa Group: European tech-enabled aparthotel and short-stay operator. Vitruvio's partner for its first hotel acquisition (48-room Málaga property, opening Q4 2026). Comparable as a real estate tenant/counterparty rather than a REIT competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks1 record

Key highlights7 records

Customer concentration

• Xtwitter.com/VitruvioSocimi
• LinkedInlinkedin.com/company/vitruvio-socimi

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Vitruvio Real Estate