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2017 / iberian.propery // 33
ISSUE: TOP IBERIAN Investors //dossier
Table 1. source: Iberian Property
Looking at the Top 10 of the largest investors
(table 1), those of Spanish nationality clearly
dominate, occupying the first three positions
on the list –Merlin (1st), Colonial (2nd) and Pon-
tegadea (3rd) -, immediately followed by a firm
of Portuguese origin, Sonae Sierra, in 4th place.
With Iberia dominating the first half of the table,
it is rounded off by the presence of two players
of French origin – Rodamco Unibail (5th) and
AXA-REIM (6th) – and one of North American
nationality – CBRE Global Investors (7th), ending
with three more Spanish entities - Mapfre (8th),
Hispania (9th) and Gmp (10th).
Almost all of these entities own a portfolio with
a GAV that exceeds 2 billion euros, and the sum
of their assets amounts to 44.15 billion euros. In
other words, 67% of the value of the sample is
in the hands of only ten entities.
Asset Managers & Investment
Funds own the majority of assets
The sample was grouped into three different
categories: Socimi & REITs (listed vehicles), As-
set Managers & Investment Funds and, finally,
Private Equity & Insurance Companies. Iberian
Property’s analysis determined that almost half
(41%) of the total value of assets is in the hands
of
«Socimi & REITs»
: 27.44 billion euros, followed
by
«Private Equity & Insurance Companies»
, with
a share of 34%, in other words, 22.79 billion eu-
ros in assets. The least active type of investor
in terms of GAV is
«Asset Managers & Funds»
,
with a 24% share, in other words, 15.97 billion
euros (Graph 1).
Top Iberian Investors - GAV Breakdown by type of investor (€Mn)
Top transactions 2016 / 2017
1. 19 Hotels
Size (m
2
)
3.645 rooms
Price
(million €)
590
Buyer
Foncière des Regions
Seller
Merlin Propertes
2. Xanadú Shopping Center
Size (m
2
)
153.695
Price
(million €)
530
Buyer
Intu Properties
Seller
Ivanhoe Cambridge group
3. Diagonal Mar
Shopping Center
Size (m
2
)
87.500
Price
(million €)
493
Buyer
Deutsche Asset Management
Seller
Northwood Investors
4. Torre Cepsa
(aka Torre Foster)
Size (m
2
)
109.000
Price
(million €)
490
Buyer
Pontegadea
Seller
IPIC Capital
27 440
15 970
22 787
Asset Managers & Investment Funds
Private Equity & Insurance Companies
Socimis & REIT’s