CBRE Investment Management will participate as a new institutional partner in the developer Vía Célere, through a transaction valued at €300 million. The deal has been structured through a capital contribution to the vehicle through which Värde Partners controls the company, which will allow the US fund to modify its shareholding exposure and bring in new investors.
The transaction is part of a recapitalisation process initiated in 2024 by Värde, aimed at partially exiting existing investors, known in the industry as LPs, and attracting institutional capital. CBRE IM is incorporated as an anchor investor, a role that reinforces its direct involvement in the new corporate phase.
The combined valuation of the developer, taking into account equity and debt, is around €1,000 million. The deal is expected to close in September, with advice from Evercore and Eastdil Secured on behalf of Värde, and CBRE and PwC on behalf of CBRE IM.
With the capacity to develop more than 12,500 homes, Vía Célere has one of the largest reserves of finalist residential land in Spain. Since its acquisition in 2017 by Värde, the company has consolidated its activity in the national development market.
The transaction is in addition to the €300 million early refinancing that the developer executed in 2024, through a green syndicated loan led by BBVA and Santander, in which Kutxabank, Bankinter, Unicaja and Sabadell also participated. The loan, with an initial term of three years extendable to four, guarantees stable financing until 2028.
