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Spain’s RE Sector Enjoys A Flurry Of Operations

Posted by: In: Real Estate 24 Nov 2016 Comments: 0 Tags: , , , , , , , , , , ,
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24 November 2016 – Expansión

The real estate sector continues to celebrate. Investors are still very much interested in Spain and real estate operations continue to be signed. The office sector is still one of the major stars of the recovery, along with shopping centres, thanks to the boost from domestic and international investors and fund managers alike.

The increase in liquidity, together with the lack of profitable alternatives – such as the bond market – and the volatility of the global stock markets, have generated a great deal of interest in the sector and the experts predict that, with the resolution of the political deadlock now behind us, several pending operations will likely close within the next few months.

Although the experts forecast a decrease in investment in the sector, after a record year in 2015, large-scale operations, such as Amancio Ortega’s purchase of Torre Cepsa, are a sign of the good health that the sector is enjoying.

The Socimis continue to be one of the most important players, as evidenced by: the agreement reached between Merlin and the shareholder banks of Metrovacesa, for the merger of the two companies; the entry of the real estate company Colonial into the share capital of Axiare; and the decision taken by the US fund Pimco to strengthen its position in Lar España, taking it to almost 20%, according to the latest records from the CNMV.

Besides the activity in the tertiary asset market, the residential market is also enjoying a revival. In this sense, yesterday, the property developer Dospuntos, owned by the fund Värde, announced the launch of its first real estate development in Spain, with 62 homes in A Coruña. This move forms part of the company’s plan to invest €2,000 million in the country over the next six years.

Original story: Expansión (by Rebeca Arroyo)

Translation: Carmel Drake

The post Spain’s RE Sector Enjoys A Flurry Of Operations appeared first on Aura Real Estate Experts.

Source:: AURA Real Estate Experts

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