Plaza de España, Gran Vía 84
Inbest SOCIMI, an investment vehicle of Inbest Real Estate specialized in retail real estate assets and value added operations, has ended its fundraising period, reaching a final volume of 229 million euros of equity. Considering the initial objective, set at 200 million euros, the vehicle thus confirms the attractiveness of its value generation strategy and its asset portfolio.
With the end of the fundraising process, Inbest Socimi also completes its structuring process, by incorporating 3 new Socimis into BME Growth (Inbest Prime VI Inmuebles SOCIMI, Inbest Prime VII Inmuebles SOCIMI and Inbest Prime VIII Inmuebles SOCIMI), which are added at 4 of the first level already listed and at 2 of the second level not listed.
Since its launch in 2018, Inbest SOCIMI has closed different operations for the acquisition, development and management of singular assets for the creation of flaghsips for first-level operators in prime locations in the main cities of Spain. Currently, the vehicle has close to 400 million euros under management, with assets in Madrid (the commercial area of the Plaza de España building at Gran Vía 84 and Princesa, 41), Bilbao (Gran Vía, 20), Valencia (Cólón 1 & 7 ) and Las Palmas de Gran Canaria (Triana, 33).
These investments are a reflection of the value contribution of the management team through actions such as: i) support for the reconversion and revitalization of cities, with public-private collaboration agreements such as Princesa 41 or Plaza de España; ii) the rehabilitation of buildings for the creation of world-leading assets in terms of innovation and sustainability; iii) the incorporation of first-rate tenants with the first post-covid contracts, such as Zara and Stradivarius in Plaza de España or BBVA and Alcampo in Princesa, 41; and, consequently, iv) the consolidation and creation of commercial destinations of reference.
Javier Basagoiti, president and founding partner of Inbest, pointed out: «The excellent results obtained since the launch of Inbest SOCIMI show the great potential and attractiveness that the vehicle currently has on the market. We are proud that different types of investors trust in our value proposition and this, without a doubt, drives and motivates us to continue developing large operations and positioning the firm as one of the benchmarks in the sector in Spain ».