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 MoreBain Capital buys developer Habitat for €220M
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 MoreBarings acquires fully-let Berceo Shopping Centre in Logroño in La Rioja, Spain
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 MoreColonial will develop in Madrid the largest office complex inside the M30
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 MoreCerberus Is Said to Weigh IPO for Spanish Property Firm Haya
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 MoreReal estate investment in student residences in Spain increased 10-fold in 2017
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 MoreBankinter prepares the launch of a hotel socimi
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 MoreHispania acquires from Barceló Group its 24% stake in its subsidiary BAY
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 MoreOaktree buys €150m of Spanish NPLs
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 MoreReal Estate Debt in 2017
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 MoreHispania sign an agreement to acquire a portfolio of 7 hotels from Alua Hotels & Resorts for EUR165m
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 MoreA Decade After Bubble, Spanish Real Estate a Hot Buy Again
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 MoreAXA IM-RA buys Spanish residential portfolio for €170m
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 MoreBest wishes from the Optimus team. May 2018 even be better than 2017.
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 shines as Southern Europe’s star performer with cross-border capital driving investment volumes to post crisis peak
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 MoreResidential Finance: The Spanish revival
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 MoreBankinter sells €436 million in toxic assets to Axactor
Bankinter has closed the sale of the largest package of toxic assets of the entire crisis: the so-called 'Champions League Project', with unpaid loans valued at €436 million, which was awarded to the Norwegian fund Axactor.
Read MoreColonial secures €416 million for Axiare takeover
Inmobiliaria Colonial has secured €416 million to fund its takeover bid of Axiare Patrimonio Socimi. Colonial, which already owns nearly 29 percent of Axiare’s capital, launched the bid earlier in November to secure the remaining 71 percent.
Read MoreColonial given €800m liquidity boost ahead of Axiare takeover
Colonial Group has raised €800m through a bond issue as it looks to acquire rival real estate invesmtent trust (REIT) Axiare Patrimonio. The Spanish REIT, or Socimi, issued senior unsecured notes of €500m with an eight-year maturity and €300m with a 12-year maturity.
Read MoreAxiare Patrimonio acquires an office property in Madrid for EUR 29.7 million
Axiare Patrimonio acquires another property in line with its strategic business plan and brings the total value of its property portfolio close to EUR 1,750 million. The Socimi has acquired an office property at Calle Josefa Valcárcel, 40 bis in Madrid, which is currently under construction, for EUR 29.7 million.
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