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Spanish REITs
Hispania Activos - (Spain Diversified - HIS)
Tuesday, 18 August 2015 06:36

In early-2015 Hispania Real & Grupo Barceló Hotels & Resorts announced plans for a hotel focused REIT – Bay - to help plug the gap for institutional investors to invest in the country’s large hospitality sector (“by far the largest in Europe”). The REIT would see Hispania immediately acquire 11 of Barceló’s hotels with 3,946 rooms (plus a shopping center), with another 5 hotels with 2,151 rooms (and another shopping complex), lined-up for future acquisitions, worth a combined €421m/$446m, in return for a 19.5% stake (and option to acquire up to 49% through capital increases). Hispania listed in early-2014 with a diversified portfolio of 25 assets: 55% in offices, 23% to residential, and 22% in 6 hotels. Barceló are one of the largest hotel developer-operators with 19k rooms and also “heavy exposure” to the Canary Islands, which is not a seasonal destination. It would manage the properties it contributed via an initial 15-year lease contract. Others would be managed by different leading hotel operators.

Hispania Website Link

Hispania Email Link

Yahoo Chart Link

Google Chart Link

Last Updated on Tuesday, 18 August 2015 06:50
 
Bulwin Investments - (Spain Diversified)
Friday, 07 November 2014 07:04

Felix Abadanes, the owner of Quabit, has got it all prepared for the IPO of his new real estate investment trust named Bulwin Investment. The company will go public under the tax regime of a Socimi (Spanish equivalent of a Reit firm), beating popularity records nowadays.

The offering is expected to raise an amount of €500 million and it will not be conducted through monetary contribution but the funds will be backed by real estate assets lodged in by its investors. Neither the selloff will be secured by banks but will aim at institutional market of qualified partners..

Listed Quabit managed to beat its debt down not long ago. At the beginning of the recession, the company had to face inheritage from another firm that pulled it to an almost €1.5 billion indebtness. Today, the enterprise of Felix Abadanes still owes €350 million.

The latest report by Quabit reveals the firm came back on the right track. To illustrate, in the first half of the year, the company earned €62 million. In H1 2013, the same firm lost €10 million.

- See more at: http://www.auraree.com/real-estate-news/felix-abadanes-seeks-second-chance-stock-bulwin-investments/#sthash.OcTg3MTIn M.dpuf

In late-2014 Quabit Inmobiliaria announced plans to to launch Bulwin Investments "activosinmobiliarios" SOCIMI via a €400m IPO, a diversified REIT that would be investing primarily in offices, residential properties (about 40%), and logistics. Its history goes back to 2008 when Astroc Mediterraneo merged with Rayet Promocio and Landscape to create Afirma Grupo Inmobiliario, which then changed its name in to Quabit Inmobiliaria 2010 (with Rayet as the major partner).

Grupo Quabit Website Link

 

 

Last Updated on Friday, 07 November 2014 07:31
 
Axia Rodex - (Spain Diversified)
Friday, 12 September 2014 05:15

In mid-2014 Axia Real Estate announced plans to list as a REIT via a €360m / USD$490m IPO with Rodex Asset Management (controlled by listed Madrid group Alza Real Estate, which is is backed by controlled by the Alarcon family), focusing on Madrid and Barcelona offices (70%), logistics (20%), and shopping centres (10%). New York-based Anchorage Capital Group, Unibail-Rodamco, Deutsche Bank, Blackstone and Orion Capitalwere rumored to be considering becoming cornerstone investors.

AxiaRealEstate Website Link

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Rodex Website Link

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Last Updated on Friday, 12 September 2014 05:27
 
Hispania Activos - (Spain Diversified HIS)
Friday, 12 September 2014 04:46

In early-2014 independent Madrid fund manager Azora (created in 2011, with more than €2.5bn AUM), announced plans to float Hispania Activos Inmobiliarios as a REIT in a €500m fund-raising IPO for Spanish residential, offices and hotels that typically “require either some repositioning, capex investment or active asset management."

Hispania Activos Website Link

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Hispania Activos Google Chart Link

Hispania Activos Yahoo Chart Link

 

Last Updated on Friday, 12 September 2014 04:58
 
Entrecampos Cuatro - (Spain Diversified YENT)
Friday, 12 September 2014 04:38

Entrecampos Cuatro REIT / Socimi is a large diverse residential and commercial developer / investor and listed on the Spanish alternative stock market / MAB (Mercado Alternativo Bursátil).

Entrecampos Website Link

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Google Chart Link

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Merlin Properties - (Spain Diversified)
Friday, 12 September 2014 04:30

In early-2014 Merlin Properties (a Spanish real estate investment trust), announced plans to raise about €1,5bn/$2bn in what would be the largest IPO by a European REIT, with the Tree Inversiones Inmobiliarias commercial portfolio of properties leased to Banco Bilbao Vizcaya Argentaria (Spain’s second-largest bank), lined-up for acquisition, along with other Spanish and Portugese investments. It is internally managed by former RREEF (Deutsche Bank) directors, and cornerstone investors included Moore Capital.

 

Last Updated on Friday, 12 September 2014 04:32
 
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