Izilend, FS Capital's alternative financing vehicle founded in 2018, has closed a financing agreement with a private investor with a presence in Spain for an amount close to €20 million. The funds will be used to acquire a total of seven assets in Andalusia and Melilla. Specifically, these are five supermarkets and two petrol stations with an aggregate value of around 30 million euros.
These projects are operated by Family Cash, a well-known Spanish supermarket chain with a track record of more than a decade, owning a portfolio of at least 40 assets and approximately 4,000 employees. The assets within this transaction have an average leasable area of 5,000 square metres, giving an aggregate leasable area of 25,000 square metres. The assets are mainly located in Andalusia, specifically in Lebrija, Morón de la Frontera, Osuna and Montilla, and in Melilla.
With this new operation, Izilend has closed the year 2023 with a financing amount 50% higher than the previous year. The firm is focused on taking advantage of all the opportunities in the Iberian market, having closed financing operations to date in excess of 350 million euros and having analysed other projects worth more than 5,000 million euros.
Francisco Jonet, partner & managing director of Izilend, said: "This new transaction highlights the value of alternative financing in Spain as a booming tool in which more and more large and relevant investors trust to launch their projects, while reinforcing our commitment to offer financing alternatives tailored to the needs of each of our clients. In a changing macroeconomic environment, it is essential to offer proposals that allow investors feasible alternatives, without compromising the viability of the project and the corresponding return on investment".