Lar España Real Estate Socimi S.A. (LRE), the listed real estate investment company, has acquired the Rivas Futura retail park in Madrid for EUR 62 million. Hence, it becomes the socimi's first large retail asset in Madrid and it reinforces Lar España’s retail portfolio.Read More
Klépierre, the leading European shopping center platform, signed an agreement for the disposal of two retail malls for a total consideration of €212.2 million (including transfer duties) to Carmila. The closing of the transaction is expected to occur in the Q1 this year.
Ares Management and Redevco’s Iberian joint venture has acquired a majority stake in Parque Corredor shopping centre in the capital of Spain for €140m. Redevco Iberian Ventures said it has bought more than 70% of the gross leasable area in the Parque Corredor shopping centre in Madrid.Read More
Union Investment has acquired a high street property from Thor Equities comprising some 1,320 sq m of rental space in one of Madrid’s main shopping streets. Built in 1900, the five-storey building at Calle de Fuencarral 16 was completely refurbished in 2017. The long-term tenant occupying the entire property is the H&M Group.Read More
Inditex has selected German fund Deka Immobilien to sell the portfolio of 16 stores that were put on sale last December for about €400 million, according to "El Confidencial". The transaction is scheduled to close this week, which will allow the owner of Zara, Massimo Dutti and Bershka, among other brands, to include this divestment in the results for the year 2017.Read More
US venture capital firm Bain Capital has closed the purchase of Catalan developer Habitat Inmobiliaria. The amount of the operation could be around €220 million, according to sources close to the operation, who have indicated that other funds, such as Oaktree or Apollo, had also been interested in the developer.Read More
Barings Real Estate Advisers, part of Barings LLC, one of the world’s largest diversified real estate investment managers, announces that it has acquired the Berceo Shopping Centre in Logroño in La Rioja, Spain from Retail Property Fund Iberica (RPFI), managed by CBRE Global Investors .Read More
Colonial started 2018 with the execution of the Alpha-III Project, which includes the acquisition of five assets (four in Madrid and one in Barcelona), with an expected total investment of €480 million. Colonial will develop more than 110,000 sq m of office space in the south of Madrid and has acquired in addition two Grade A assets in new business areas of the capital.Read More
Cerberus Capital Management LP is considering an initial public offering for Haya Real Estate to tap into a resurgence of investor interest in Spain’s property market, according to people familiar with the matter.Read More
The volume of real estate investment in student residences soared in 2017, adding up to a total of €560 million at the end of the year, compared to only 50 million transacted in 2016.Read More
Bankinter has begun to offer its private banking clients the option of participating in a listed real estate investment company (socimi) with hotels spread across Spain of 4 and 5 stars.Read More
Hispania has signed an agreement with Barceló Group to acquire its 24% stake in Bay Hotels & Leisure SOCIMI, S.A.; known as BAY, as well as to terminate the Shareholders Agreement relating to BAY and to amend certain terms of the Investment Agreement between both parties.Read More
Oaktree Capital Management has bought a portfolio of non-performing loans with a nominal value of €150 million from Sareb, Spain’s ‘bad bank’. The portfolio, dubbed Project Tambo, contains loans made on residential assets and plots of land.Read More
The attraction of real estate debt as an asset class increased this year, although so did the difficulty deploying the capital. And so another year draws to a close. As far as European real estate finance was concerned, 2017 was interesting, if nowhere near as tumultuous as 2016.Read More
Hispania has signed a purchase option with European private equity firm Alchemy for the acquisition of seven hotels of the chain Alua Hotels & Resorst for a total of EUR165 million. The transaction is expected to be completed by the end of February 2018.Read More
Spanish real estate is hot property once again. Investment in malls, warehouses, hotels and offices is this year set to reach the highest since 2007, just before the bursting of a decade-long property bubble tipped the economy into the worst slump in the nation’s democratic history.Read More
AXA Investment Managers-Real Assets has completed the acquisition of an 850 unit Spanish residential portfolio, from Goldman Sachs and B Capital, for around €170m. AXA IM-RA said it acquired the 65,000sqm portfolio on behalf of clients.Read More
The team at Optimus Global Investors wishes you peace, joy and prosperity throughout the coming year. Thank you for your continued support and partnership. We look forward to working with you in the years to come.
Spain has been leading the recovery of Southern Europe’s commercial real estate market since the Great Financial Crisis (GFC), due to continued interest from foreign investors who have been responsible for 62 percent of all commercial real estate investment activity so far this year. Investment volumes are looking to hit €8.9 billion ($10 billion) this year, a year-over-year increase of 5 percent, and a post GFC record.Read More
Residential development in Spain is back, with banks again willing to provide finance and reckless lending a thing of the past.
Cranes on the skylines of Spanish cities, such a prevalent feature a decade ago, are returning. With housing demand picking up, Spanish developers are once more establishing pipelines and breaking ground at a quickening pace.Read More