All Iron RE I Socimi

What All Iron RE I Socimi does

All Iron RE I Socimi is a Spanish SOCIMI (Sociedad Cotizada de Inversión en el Mercado Inmobiliario, the local equivalent of a REIT) listed on the BME Growth (formerly MAB) alternative stock market since June 2020. Founded in 2019 and headquartered in Madrid, the company acquires, refurbishes, and leases urban real estate properties in prime locations across Spain's primary cities (Madrid, Barcelona) and secondary cities (Valencia, Seville, Bilbao, Malaga, Donostia-San Sebastian, Pamplona, Vitoria, Alicante) to professional accommodation operators. The company runs a B2B model with no direct consumer exposure: end guests are served by operators such as Líbere Hospitality Group, Marriott International (through the 'Apartments by Marriott Bonvoy' brand), and Fraser Barcelona.

The portfolio comprises 16 assets and 891 units as of late 2025/early 2026 (historical references also cite ~19 assets, ~1,000 apartments, and ~300 hostel beds), with 48% of the gross asset value concentrated in Madrid and Barcelona. As of December 31, 2025, gross asset value (GAV) stood at €363 million and NAV per share at €16.7, against a €10 reference price at the June 2020 listing. Revenue is generated through (1) rental income from leased properties, (2) capital appreciation through NAV growth and property revaluation, and (3) occasional divestment gains (e.g., an 11% premium-to-appraisal sale of San Sebastian and Cordoba hostels in December 2025). The company has raised more than €100 million in equity via successive capital increases and in April 2026 signed a €200 million five-year syndicated loan to support further growth.

The management team is lean (~17 members) and led by Co-General Directors David Iriso and Ibon Naberan, with functional leadership across investment, construction, finance, legal, and ESG (Virginia Escauriaza). Net profit reached €44.6 million in 2025, 3.7x the prior year, with EBITDA up 32% year-over-year in Q1 2026 and a €0.20/share dividend declared. The company distinguishes itself through BREEAM-certified assets, a GRESB Real Estate Benchmark score of 84/100 (2025), and partnerships that elevate the portfolio above fragmented private-market alternatives. Strategic discipline is evident in simultaneous portfolio expansion (new openings in Seville, Alicante, Malaga) and active recycling (divestments in Budapest, Bilbao, Malaga Beatas, Madrid Matilde Landa).

Name

All Iron RE I Socimi

Legal name

ALL IRON RE I Socimi, S.A.

Website

https://allironresocimi.es

Company type

Public

Founded year

2019

Operating status

Operating

Headcount range

1–10 employees

Short description

Spanish SOCIMI (REIT) listed on BME Growth since June 2020 that acquires, refurbishes, and leases urban properties across Spanish cities to professional accommodation operators (Líbere, Marriott, Fraser) for short and medium-term stays.

Ownership category

akta.pro rank

Product category

Real Estate Investment Trust (REIT)

NAICS

Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Real Estate Investment Trusts (6798)

akta.pro primary industry

Luxury Villa Resorts & Branded Villa Communities (THAMAEAI)

Keywords

• Real estate investment trust
• Alternative accommodation
• SOCIMI REIT
• Urban property leasing
• Hospitality real estate

Headquarters

HQ city

Madrid

HQ country

Spain

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Rental Income from Leased Properties: Primary revenue stream from leasing acquired and refurbished urban real estate properties to professional accommodation operators for short and medium-term alternative accommodation. Properties are located in primary cities (Madrid, Barcelona) and secondary cities (Valencia, Donostia-San Sebastian, Seville, Bilbao, Malaga).
2. Capital Appreciation: SOCIMI structure provides tax benefits and aims to generate returns through property value appreciation and NAV growth. The company achieved €16.7 NAV/share as of December 2025.
3. Property Divestment Gains: Occasional strategic divestments of assets at premiums over independent appraisals (e.g., 11% premium on San Sebastian and Cordoba hostels). Budapest asset sold to Polat group for up to €18.5 million.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels6 records

Core offering

All Iron RE I Socimi is a publicly listed Spanish REIT (SOCIMI) on BME Growth that acquires, refurbishes, and leases urban real estate properties in prime Spanish city locations to professional accommodation operators for short and medium-term stays. The company operates a portfolio of 16 assets with 891 units across Madrid, Barcelona, Valencia, Seville, Bilbao, Malaga, and other cities, generating revenue through rental income from operators such as Líbere Hospitality Group and Marriott International.

Product overview

All Iron RE I Socimi operates as a real estate investment company (Socimi) focused on the alternative short and medium-term accommodation segment in Spain. The company develops a portfolio of urban real estate assets comprising approximately 1,000 apartments across 16-19 properties and 300 hostel beds, located in prime urban areas of primary cities (Madrid, Barcelona) and secondary cities (Valencia, Donostia-San Sebastian, Seville, Bilbao, Malaga). The product portfolio centers on furnished apartments for short and medium-term rental, complemented by hostel accommodations. Strategic partnerships with operators like Marriott International (Marriott Bonvoy Apartments) and Líbere Hospitality Group enable professional management of the properties. The company also emphasizes ESG credentials through BREEAM certifications and GRESB participation.

Differentiator

Problem solved

Functional benefit

Products and services

• Urban Apartments Portfolio Furnished urban apartments for short and medium-term rental in prime Spanish city locations (Madrid, Barcelona, Valencia, Seville, Bilbao, Malaga, San Sebastian), acquired, refurbished, and leased wholesale to professional accommodation operators.
• Hostel Beds Hostel accommodations offering approximately 300 beds in urban centers, providing budget-friendly alternative accommodation options alongside the apartment portfolio.
• Marriott Bonvoy Branded Apartments Professional serviced apartments operated under the Marriott Bonvoy brand, representing the first 'Apartments by Marriott Bonvoy' in Spain, located at Alcántara in Madrid, combining All Iron's real estate ownership with Marriott International's hospitality brand management.

Quantifiable outcome

• 14% annual IRR achieved with first asset sale in 2023
• +4 more outcomes

Named customers8 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Five partnerships are on record, tiered flagship, major, minor and core.

• Marriott InternationalflagshipStrategic or Co-development Partner · 26 June 2025Strategic partnership to open the first 'Apartments by Marriott Bonvoy' in Spain. All Iron acquired property on Calle Alcántara in Madrid for this initiative, marking Marriott's entry into the professional apartment rental segment in Spain.
• Fraser BarcelonamajorChannel Partner/ Reseller/ Distributor · 3 March 2025Operator of Apparthotel Capri by Fraser in Barcelona 22@ district. All Iron completed acquisition of this property in March 2025, with Fraser continuing as operator.
• Polat GroupminorOthers · 27 May 2024Acquired All Iron's Budapest asset for up to €18.5 million in May 2024, representing a property divestment transaction rather than operational partnership.
• Líbere Hospitality GroupcoreChannel Partner/ Reseller/ DistributorPrimary accommodation operator partner operating multiple All Iron properties including Malaga Plaza del Siglo (23 apartments, April 2026) and Seville Albareda (47 apartments, December 2025). Líbere provides day-to-day accommodation services under professional management.
• Accommodation Operator (Strategic Agreement)coreStrategic or Co-development PartnerCompany has reached a strategic agreement with an accommodation operator providing technology-enabled accommodation services. This partnership enables professional and scalable operations across the portfolio.

Scale indicators18 records

Recent moves25 records

Expansion highlights5 records

Direct peers

• The Ascott Limited: The Ascott Limited (CapitaLand subsidiary) is the world's largest serviced residence operator, providing professionally managed short/medium-stay apartments in prime urban locations globally. Comparable product offering (serviced apartments), customer segments (leisure and corporate), and professional-operator operating model for the kind of inventory All Iron owns.
• Pandox: Pandox is a Swedish-listed hotel property investor that owns and leases hospitality real estate to hotel operators across Europe — the same real-estate ownership + lease-to-operator model that All Iron applies to urban short-stay apartments in Spain. Comparable structure, asset class, and lease-based revenue model.
• Adagio Aparthotels: Adagio is a leading European aparthotel operator jointly backed by Accor and Pierre & Vacances, operating professionally managed short/medium-stay apartments in major European cities including Madrid and Barcelona. Directly comparable product offering and operating model to the alternative-accommodation assets All Iron leases to operators.
• Staycity Group: Staycity is one of Europe's largest aparthotel operators, running professionally managed short/medium-stay apartments in urban centres including Madrid, Barcelona, and other Spanish cities. Directly comparable product (urban alternative accommodation), target customers (leisure and corporate), and operating locations to All Iron's properties.

Broad incumbents

• Greystar Real Estate Partners: Greystar is the world's largest operator of rental housing (BTR/BTS) and student accommodation, owning/operating institutional-grade residential portfolios across Europe and the US. Comparable asset-backed rental housing model at much larger scale, though operating apartments rather than short/medium-stay alternative accommodation.
• Inmobiliaria Colonial: Colonial is a leading Spanish SOCIMI focused on prime CBD office real estate in Madrid, Barcelona, Paris, and Lisbon. Same SOCIMI structure and significant overlap with All Iron's Madrid/Barcelona prime-location focus, but operating in offices rather than alternative accommodation.
• Pebblebrook Hotel Trust: Pebblebrook is a US-listed hotel REIT that owns and leases urban and resort lodging real estate across gateway cities. Comparable real-estate investment vehicle structure focused on hospitality assets, though at much larger scale and with operator agreements rather than urban short-stay apartments.
• Lar España Real Estate: Lar España is a mid-cap Spanish SOCIMI listed on the continuous market, focused on retail real estate in Spain. Same SOCIMI legal regime and Spanish market focus as All Iron, with similar capital structure characteristics, but a different asset class (retail vs. short-stay accommodation).
• Merlin Properties Socimi: Merlin Properties is Spain's largest listed SOCIMI (REIT), operating a diversified portfolio of offices, logistics, and retail assets. Comparable SOCIMI legal structure, BME Growth/continuous-market listing, and Spanish real-estate focus, but a different asset class than All Iron's hospitality/serviced-apartment portfolio.

Emerging players

• Sonder Holdings: Sonder operates tech-enabled serviced apartments across major North American and European cities, focusing on design-led, app-driven urban stays. Partial overlap with All Iron's tech-enabled accommodation positioning and urban short/medium-stay customer base, though at an earlier stage and with a different capital structure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/allironreisocimi

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 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 All Iron RE I Socimi