AEW announces, on behalf of its Europe Value Investors Fund (“EVI” or the “Fund”), that it has acquired the Calle de Francisco Silvela 106 office building in Madrid from a private investor for c. €30mn. 

Spain’s biggest student housing provider has sold all of its real estate assets to AXA Investment Managers–Real Assets and an unnamed Dutch institutional investor, while selling its operations to Greystar. The sale by Resa of 37 student halls marks AXA IM-RA’s entry into the European student accommodation market.

Neinor Homes has just submitted to the CNMV (the Spanish stock regulator) a relevant fact to communicate the acquisition of three fully permitted land plots. Neinor Homes closed the acquisition of a fully permitted land plot in Valencia with a buildable area of 24,000m2 suitable for the development of more than 200 units. The asset is located in Benicalap district, a consolidated residential area of the city.

Neinor Homes has submitted a relevant fact to the CNMV (the Spanish stock regulator) to communicate the closing of a portfolio acquisition of a fully permitted land portfolio in Málaga, valued in EUR 68m, suitable for the development of more than 800 units and with a 27% projected gross margin, well above the Company targets.

Traditionally, there has been a common belief that in any real estate market recovery, distressed funds are the first to arrive and, once these start packing, core funds follow. In Spain right now, the core funds are currently quite active, with transactions completed at sub-3 percent cap rates – record lows for the country. Are the distressed funds leaving the country, then? Definitely not. If anything, they are accelerating their activity

AEW announces that it has completed the acquisition of a high street retail asset in downtown Madrid on behalf of the Europe City Retail Fund for c.€50 million, marking the Fund’s second acquisition in the Spanish market. 

The business of US financial services group Blackstone would, at first glance, appear to be pretty simple: it buys up companies and assets that are in difficulties, in search of the biggest capital gain in the shortest time possible. 

UBS Asset Management's Real Estate & Private Markets business has acquired the retail gallery part of Las Rosas Shopping Centre in the San Blas district of Madrid, on behalf of a client for €57 million. The vendor, Hispania Retail Properties, a partnership owned by GreenOak Real Estate amongst others, acquired this center as part of a portfolio deal in 2014.

Following Santander’s rescue of Banco Popular, its JV deal with Blackstone to tackle €30bn of distressed real estate assets could prove a success story for both the bank and the private equity real estate giant.

Blackstone has bought a majority stake in a €30bn real estate portfolio owned by troubled Spanish lender Banco Popular. The announcement was made on the same day that EU regulators approved a rescue takeover of the bank by Santander.

Redevco Iberian Ventures, the joint venture between pan-European retail real estate investment management company Redevco and funds managed by global alternative asset manager Ares Management, has acquired Mercado San Miguel, the renowned covered gastronomic market in Madrid for €70 million. The seller is a consortium of private Spanish investors.

U.S. asset manager Blackstone has entered into exclusive talks with Banco Popular over the sale of a majority stake in the rescued Spanish lender's property portfolio, Popular said in a statement on Monday.

The Spanish economy accelerated at the fastest pace in almost two years, extending a recovery that shows no signs of abating. Output grew 0.9 percent in the three months through June after expanding 0.8 percent in the previous quarter, the National Statistics Office said Friday in a preliminary report. That’s the best reading since 2015 and matches the median estimate in a Bloomberg survey of economists. From a year ago, the economy accelerated 3.1 percent.

Axiare Patrimonio continues to implement its strategic investment plan, further bolstered by its excellent financial results. The Socimi reported a net consolidated profit of EUR 114 million in H1 2017, 36.1% above the EUR 83.8 million in H1 2016. The Socimi has again increased its EPRA NAV, which stands at EUR 15.3, 11.4% higher than 6 months ago in December 2016 and 61.9% higher than at its initial listing on the Stock Exchange in July 2014.

Hispania Activos Inmobiliarios closes its first half 2017 having registered gross rents of 78 million euro and a net consolidated profit of 185 million euro, which equals to €1.48/share. With 39 hotels and a total of more than 11,200 keys, Hispania has become the largest hotel owner in Spain. 

Aina Hospitality, through the Aina Investment Fund, has completed the acquisition of a 50 per cent equity stake in Breda Capital SL, which owns “The Grand Hotel Velazquez”, a 4-star hotel located in Madrid, Spain.

Grosvenor Europe (Grosvenor), one of four operating companies of the privately-owned international property group, Grosvenor Group, has acquired two new assets in the Chamberí district of Madrid, Spain. 

Bain Capital Credit this week bought almost €1bn of bad loans in Portugal and Spain, in a sign of rising demand for distressed assets across the eurozone despite lingering concerns over inconsistent national approaches to the problem.

CBRE Global Investors, in a joint venture with IBA Capital Partners, has acquired Gran Via 18, a 5,500 sq m prime freehold asset in Madrid City Centre. The vendor was a fund managed by TPG Sixth Street Partners.

Hard Rock International has proposed a multi-phase $2.3 billion casino-resort project to be built near the PortAventura World theme park located about 70 miles southwest of Barcelona.