PSP Investments acquired around 6.9% of REIT Azaria for €5.9M

PSP Investments acquired around 6.9% of REIT Azaria for €5.9M

"EL País HQ" in Madrid, one of the assets of Azaria

This transaction will mean that Azaria’s main shareholder will have to sell 658.506 shares for 5.9 million euro and reduce its share to 69.17%.

Established in 1999, PSP Investments is specialised in investing on high-quality assets and is in charge of managing the Armed Forces and the Canadian Mounted Police’s pension plan, which means managing almost 170.000 million Canadian dollars (109.000 million euro).

Azaria, with assets estimated at 156 million euro, is listed at BME Growth (formerly known as Mercado Alternativo Bursátil) since September 2018. Its business plan includes adding to its portfolio assets with the same profile as the current ones and to be listed at the continuous Stock Exchange within the next two years.

PSP and Drago started collaborating in 2011 when they signed the purchase of Gran Vía 32 in Madrid, a building that was refurbished to host Primark’s largest European store, later sold to Pontegadea for approximately 400 million euro in 2015. In 2014, PSP and Drago purchased the Complejo Castellana 200 in Madrid, sold in 2019 to Allianz Real Estate for around 250 million euro.

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