During the development company’s new strategy presentation, the real estate company’s president Juan María Nin, and Bain Capital Credit’s managing director and head of european portfolio operations Brad Palmer, who is also the company’s main shareholder with 51% of the company’s shares were also present.
«Our company has started a new stage with Bain Capital Credit’s help with the aim of growing and positioning itself as one of the leading residential development companies in the Spanish market», streesed Saz. The real estate company expects to close the year with a turnover close to 100 millon euro and a positive EBITDA. «This investment effort will allow Habitat Inmobiliaria to deliver more than 2.000 houses per year starting in 2021 and to develop 9.000 houses in the next few years», said the company’s CEO.
As a first step in its policy of acquiring terrains, Habitat Inmobiliaria signed a loan for 240 millon euro with its main shareholder. The cash flow generated by the income from development sales delivered until 2021 will be added to this amount.