Azora liquidates the Azora Europa 1 fund

Azora liquidates the Azora Europa 1 fund

According to Expansión, the company will begin this year the liquidation process, with the sale of its portfolio of office buildings, which includes the head offices of BNP Paribas Fortis in Cracow, the Harmony Office Centre in Warsaw, of which the main tenant is the Millennium Bank; and the Louvre galleries in Prague.

The same source notes that in recent years this investment vehicle has been repaying its shareholders through reductions of social capital, by means of the acquisition of shares to be depreciated. The most recent concerns a capital reduction of 9.028 million for repayment this year to shareholders, especially Sabadell Patrimonio, with 13.66% of capital according to the company accounts, and Manuel Jove, ex-President and Founder of the real estate developer Fadesa, with 11.76%. Abanca, Kutxabank, CaixaBank, Bankia and the President of Ebro Foods falso figure among the investors, according to the same documentation. To this annual repayment can next be added the predicted gains of Azora Europa with the sale of its portfolio.

Between 2008 and 2015, Azora Europa developed ten real estate projects in Poland and one in the Cheque Republic, the focus being on this area of Europe. In this period, the Azora fund closed its investment phase with 410 million, of which 140 million were their own funds

It is interesting to note that Azora Europa’s liquidation coincides with the disinvestment phase of its other investment fund, the socimi Hispania. In February, shareholders approved the company liquidation, after 3 years of investment.


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