This is the mansion of more than US $ 3 million that is rented for US $ 18,000 per month

A luxury mansion valued at over $3 million has been acquired by a real estate investment trust (REIT) launched by Juan Ignacio Abuchdid, head of Grupo IEB, and developer Beltrán Briones. The property, located in one of the most exclusive neighborhoods of Buenos Aires, Barrio Parke, was purchased for $3.6 million, which represents a 14% discount compared to its listed price. The acquisition was made through the real estate agency Ramos Couriel. The mansion already has a valid rental contract in place, generating $18,000 per month, or $216,000 annually. This results in a capitalization rate (cap rate) of 6%, according to the company's press release. The location, just meters away from Parque Las Heras, the Bosques de Palermo, and the gastronomic and commercial corridor of Av. Santa Fe, reinforces its status as a top-tier residential asset, according to the investors. The mansion is situated on Calle Mariscal Ramón Castilla number 3000 in Barrio Parque. It features a French-style design with a total area of 700 square meters, of which 500 square meters are covered. The property spans three floors connected by a private elevator and includes seven rooms, four bedrooms, five bathrooms, a service room, and two carports. Additional amenities include a Jacuzzi, sauna, Finnish shower, and a terrace with a solarium. The house is described as being in excellent condition, ready for immediate occupancy. The purchase highlights the strategic value of Barrio Parque, a highly sought-after neighborhood within the City of Buenos Aires. Defined by avenues such as Figueroa Alcorta, Ortiz de Ocampo, Juez Tedín, and Tagle, the area is known for its European-inspired garden-style design, winding streets, and strongly residential character. According to Ignacio Camps of the real estate consultancy Evoluer Real Estate, approximately 300 properties make up the neighborhood, with only around 25 currently available for sale, less than 9% of the total stock. The supply is not uniform either, with homes in the so-called "Barrio Parque Interno" attracting higher demand due to their privacy and lower vehicle traffic, while properties along the edges tend to have lower prices. Within this limited supply, very few houses are immediately habitable. Most require varying degrees of renovation or are undergoing renewal processes. Additionally, Barrio Parque holds the status of a Historical Protection Area, restricting maximum building heights to four stories and limiting commercial uses. These conditions, combined with the scarcity of available properties and the desire among buyers to live in a home-like environment, influence the potential for new developments. Developers face the challenge of innovating in such an exclusive area without compromising its unique identity. The key question becomes how to create new projects in a space defined by exclusivity and tradition, focusing not on expanding square footage but on capturing the sense of belonging that defines this elegant part of Palermo Chico. The REIT’s acquisition marks a significant entry into the high-end residential market of Buenos Aires. With the existing lease agreement already in place, the investment is expected to generate returns from the outset. The property's prime location and the characteristics of the neighborhood suggest that it could serve as a model for future acquisitions by the fund. As the real estate market continues to evolve, particularly in areas with restricted development, such strategic purchases highlight the growing interest in premium assets that offer both stability and long-term appreciation potential. The success of this venture will likely be monitored closely by other investors looking to replicate similar strategies in comparable markets.