Corpfin sells 13 commercial spaces to Swiss Life for €83M

Corpfin sells 13 commercial spaces to Swiss Life for €83M

The sales have been carried out through the two socimis of Corpfin listed on the Alternative Stock Market (MAB): Corpfin Capital Prime Retail II Socimi (Ccpr II) and Corpfin Capital Prime Retail III Socimi (Ccpr III). The agreement for conveyance of the portfolio was signed in June, according to Idealista News.

With assets worth €69.200 million in the pan-European area, Swiss Life focuses its investment on the offices business, which accounts for 37% of its portfolio, followed by the residential business, with 32%. Retail, coincidentally, only occupies 16% of its investments. The remaining is divided between the logistics sector, hotel and alternative assets.

The Corpfin plans, founded by Javier Basagoiti, go through investing more than €400 million in a period from February 2018 to February 2021. Half of the money will come from own funds and the rest of leverage.

In total, the manager company aims to have high street assets between 1,000 m² and 30,000 m², entering into this equation the purchase of entire buildings in which mixed uses are alternated. Corpfin already negotiates the acquisition of spaces in Madrid, Euskadi and Valencia on prices ranging from €5 million to €60 million.

Iberian Property logoIberinmo logo
Iberian Property is the best platform for investment in Spain & Portugal. Created for those who seek reliable information about players and deals happening in Iberia. Through updated database, reports, market indicators and daily news, we report “Who’s Who” in Iberian Real Estate!. Iberian Property is also proud to organize the most important international real estate investors’ meeting in Iberia - Portugal Real Estate Summit!