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42 // iberian.propery / 2017
dossier// ISSUE: TOP IBERIAN Investors
Lone Star Funds sells in Spain and reinvest in Portugal
Lone Star Funds, in a littlemore than three years, has become an important
reference in the sector. In 2014 acquired the Spanish Bank Kutxabanc to
Neinor, one of the greatest real estate developers of the country, closing
the deal for 930million euros. Benefiting from the fact that the newowner
is amanager of private equity, the developer returned to a growth, building
2.000 homes in 2016 and expects to raise up to 3.250 a year from 2018 to
2020. The latest say that Lone Star plans to sell 25% to 50% of the com-
pany this year, in a deal that could value Neinor at around 2 billion euros.
In Portugal, the plan is to complete the sale of 75% of the Novo Banco
capital and so to take the portfolio of the real estate assets listed in the
Bank’s balance sheet. Among it there is the plot Nova Amoreiras, one
of the most desired to real estate development in Lisbon, already with
allotment permit approved, and which the manager of private equity
undertook to develop.
Meanwhile, the Group keeps following the strategy to raise investors
to develop the second stage and expand the Portuguese resort in
Vilamoura, acquired in 2015 for 220 million euros. At the same time,
continues to advance with the sale of the real estate assets acquired in
2015, in Portugal and Spain, by the purchase of the debt of the bankrupt
Spanish Group Chamartín Imobiliário.
Americans giants keep
making the news in Iberia
Key players in some of the largest investment operations
during the
«real estate on sale»
crisis, some of the greatest
hedge funds and managers of private keep making news
in this new stage of the Iberian real estate market.
11. 11 logistics warehouses
Size (m
2
)
322.500
Price
(million €)
243,3
Buyer
P3 Logistic Parks
Seller
Gore Spain Holdings SOCIMI
12. Office Park Expo
Size (m
2
)
78.600
Price
(million €)
235
Buyer
SG Trust
Seller
NORFIN
The Top 3 most active investors in
2016/17 were responsible for a joint
investment of 1.85 billion euros (14% of
the total amount invested in this period)
Top transactions 2016 / 2017