Helios RE Socimi, a company promoted by Hines European Real Estate Partners III and Grupo Lar, has closed a €810 million financing agreement with Morgan Stanley and Banco Santander to refinance Lar España's portfolio of 12 shopping centres and retail parks. The transaction is part of the corporate reorganisation process initiated after the takeover bid launched in 2024.
The new financing replaces the bridge structure used until now and aims to provide the company with a stable financial base with which to execute its long-term strategic plan. The agreement has been closed with the same entities that already participated as financiers in Helios' takeover bid for Lar España, which was completed with the squeeze-out process in February 2025.
The reorganisation will culminate with the reverse merger approved by the Board of Directors last May, in which Lar España will absorb its parent company Helios and will start operating under the name Helios RE Socimi.
"This step marks the beginning of a new phase for Lar España. We are leaving behind bridge financing to make way for a financial structure designed to support our business plan and respond with agility to market opportunities," said Vanessa Gelado, director of Lar España and future president of Helios RE Socimi. Vanessa Gelado also thanked "the confidence of the financial institutions that support us and the rigorous work of the team".
For her part, Maribel Plaza, director of the company and corporate finance director of Grupo Lar, stressed that "we have achieved conditions that not only recognise our track record, but also position us with a robust structure to continue creating long-term value for our shareholders, operators and customers".
The transaction has been advised by A&O Shearman and Freshfields.
