Testa Residencial is to launch on the stock market after integration of Acciona asset

Testa Residencial is to launch on the stock market after integration of Acciona asset

The incorporation of these houses from Acciona into Testa will be accompanied by a capital expansion by Testa, which will be subscribed by  Acciona through the input of between 900 and 1,050 homes, a number still undecided pending a valuation of the assets, being carried out by Testa, state Spanish Real Estate.

These houses come from developments begun by the  Entrecanales company destined for rental purposes, basically in the zone of Conde de Orgaz in Madrid. After the integration, Testa will have almost 9,000 homes destined for rental. 

In 2015,  Merlin bought Testa from Sacyr, inheriting a housing business originally from the defunct Vallehermoso. In the following year, the company integrated the commercial assets of Metrovacesa into Merlin and thus formed the new company Testa Residencial,combining their houses with those of Metrovacesa.

With the integration of the houses,  Acciona has become the third biggest partner in the socimi, with control of 20% of the capital. The main shareholder is  Santander, whose current 45% share will become 36%, followed by BBVA (from 34% to 28%), Merlin will have  13% and Popular 3%. The Entrecanales company is also in negotiation to incorporate at least one representative on the Board of Management at Testa. 


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