Värde Partners has closed a fully subscribed fund with €450 million in capital commitments to continue its backing of Vía Célere, one of Spain’s largest residential developers. The transaction, which values the company at close to €1 billion, provides liquidity for Värde’s existing investors while ensuring the business remains strongly capitalised.
The vehicle is anchored by a €300 million commitment from CBRE Investment Management, with a further €140 million from Cross Ocean Partners, underscoring institutional appetite for Spanish residential exposure.
Värde first invested in Vía Célere in 2017 and has grown the company into a leading national platform through a series of mergers and acquisitions. Today, the developer controls one of the country’s largest landbanks, with capacity for more than 12,500 new homes across Madrid and other major cities, and in 2024 delivered a record number of units.
The deal marks a significant milestone for the business as it seeks to maintain growth in Spain’s housing market, with continued focus on scale, land management and delivery discipline.
Anthony Iannazzo, Partner at Värde and non-executive member of the board of Vía Célere, said: “This is an important milestone for Vía Célere, Värde’s clients and the new partners joining us. The transaction demonstrates our ability to deliver liquidity to our investors while supporting ongoing value creation in an investment theme we believe has room to run. We look forward to working alongside world-class partners in CBRE IM and Cross Ocean to build on Vía Célere’s long and successful track record in Spain.”
Juan Buades, Partner and Head of Iberia at Cross Ocean, added: “Vía Célere combines a best-in-class platform with a high-quality landbank in one of Europe’s most attractive residential markets. We’re pleased to support this next chapter and to partner with Värde and CBRE IM in backing a business with strong fundamentals, a clear strategy and the discipline to deliver long-term value.”
Evercore and Eastdil Secured acted as advisers to Värde.
