Adequa Real Estate and the Jeff services network have closed an agreement to acquire, adapt and rent 1,000 commercial premises throughout the Spanish geography. In the initial phase they will select portfolios of at least 50 stores, which will be managed by Adequa, in Barcelona, Valencia and Madrid to offer to their entrepreneurs. The estimated total investment is 150 million euros for the purchase of various portfolios of small-format stores over the next 3 years. The objective of this agreement is to activate commercial activity in premises that are currently empty and to channel the entrepreneurs of the Jeff platform. The Valencian platform, through its Marketplace and data intelligence, makes it possible to start profitable businesses in a simple way thanks to its “turnkey” offer through various urban convenience verticals such as laundries, sports and beauty centers or co-working spaces.
Currently, Jeff has a presence in more than 40 countries and has thousands of entrepreneurs to whom he offers a business model through franchises or offering them the support and infrastructure to run their business. On the other hand, the real estate investment manager Adequa will be in charge of structuring the investment, making the purchase and reforming the premises. Finally, she will execute the management of the assets that are part of the portfolio that she will previously select through a hybrid system that mixes field work and big data. Both companies have established an action protocol to automatically validate and sign rental contracts with a duration of 15 years.
Pepe Singla, investment manager and partner at Adequa, sees this operation as a great opportunity to enter the retail investment sector with the guarantee of a technology company like Jeff and, at the same time, support the country’s entrepreneurial sector. “At a time when the retail sector is very weak, this agreement is a great opportunity, and at the same time a challenge, for everyone.” Singla affirms that the agreement with Jeff is a pioneer in Spain and that in the coming years they plan to offer commercial premises outside the national territory.
For his part, Eloi Gómez, CEO of Jeff, affirms that “our company has a very clear mission: to break down economic and knowledge barriers so that everyone can start a business. This type of agreement allows us to have a very positive impact, lowering the costs of starting a business for the entrepreneur. This agreement is, without a doubt, great news, and we will continue betting on the Real Estate model in other countries.”