REIT Zambal sells number 23 Plaza de Cataluña

REIT Zambal sells number 23 Plaza de Cataluña

This transaction was carried out through the sale of an 89% share of Zambal’s subsidiary Trébol Core Properties, which owned the building. This operation was carried out for 71 million euro. This number represents an implicit value for the building of 167.5 million euro.

Both the subsidiary and the asset will remain under the management of IBA Capital Partners.

This information was advanced by the company in a release made available by the Mercado Alternativo Bursátil, which mentions that with this process «Zambal carried out a capital increase through the non-monetary sale of its asset» and, as a consequence «contracted a loan with a mortgage guarantee of 100.8 million euro with several financial institutions». It further states that «the Society agreed, as a share premium refund, to pay its sole partner 87.62 million euro».

Following this operation, ZAMBAL’s portfolio is composed of a total of 13 assets in Madrid, with a GLA of 270.468 sqm, of which around 95.3% correspond to office buildings.

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