Portobello Refinances its Gyms through a €70M Bond Issue

The investment bank Arcano has been the global coordinator and underwriter of the operation, whose bonds will be listed on BME’s alternative fixed-income platform, MARF.

The bonds have a 5-year term, with a bullet maturity in March 2025 and an annual coupon of 5% payable every 6 months. The objectives of this issue are to boost the group’s expansion in Portugal, refinance the €55 million bond issue from 2015 – with a coupon of 6% -, and distribute a dividend amounting to €10 million. “There has been great demand for the issue from a diverse range of institutional investors including fixed-income funds, pension funds and family offices,” say sources at Arcano.

In 2019, the company had more than 175,000 bondholders on average, and generated total revenues of €47.7 million and an EBITDA of €17.1 million. It operates under the commercial brands Supera and Supera 24 and is one of the main municipal sports centre concessionaires in Spain and Portugal, where it owns or manages 48 sports centres in total, 32 of which are concessions.

The Government Intervenes in Private Nursing Homes

This measure seeks to “alleviate the saturation” of public nursing homes and “improve the living conditions of the elderly”, as well as to reduce their level of risk of infection.

The Government is intervening in private nursing homes throughout Spain to alleviate the pressure on public nursing homes and improve the situation for the elderly – the most vulnerable group. This decision was announced by Pedro Sánchez during his speech to the nation on Saturday after he held a videoconference with the Presidents of the Autonomous Regions.

“We are going to ensure that every Autonomous Region has access to the facilities and the material and human resources of the private nursing homes,” explained the Prime Minister.

CA Ventures Debuts in Spain & Portugal with the Goal of Investing €200M per Year

The real estate company has committed to investing €200 million in residential projects for students and homes for rent in Spain and Portugal.

The real estate investment company CA Ventures is entering the Spanish and Portuguese markets with the objective of investing €200 million a year, and with the appointment of Steven Zijl as the firm’s CEO for both countries.

The real estate company has committed to investing €200 million per year in residential projects for students and homes for rent in Spain and Portugal. The company is focusing mainly on university cities such as Madrid, Barcelona, Lisbon, Valencia, Salamanca and Granada.

Blackstone Buys the Student Hall Company IQ from Goldman & Wellcome for €5.55 Billion

The company IQ specialises in student accommodation. Its portfolio contains 67 assets in 27 British cities, where it offers more than 28,000 beds. This year it plans to add another 4,000 beds in cities where demand is rising.

The investment fund Blackstone has purchased the student residence company IQ Student Accommodation from Goldman Sachs and Wellcome Trust for €5.549 billion (GBP 4.66 billion), according to reports from the companies.

IQ is a company specialising in student accommodation. Its portfolio contains 67 assets in 27 British cities, where it offers more than 28,000 beds. This year, it is planning to add another 4,000 beds to its portfolio in cities where demand is rising. Most of the firm’s halls of residence are located in London.

Juan Pepa Closes the First Operation with his New Investment Fund

Stoneshield Capital, the investment fund owned by the Argentinian director Juan Pepa, has purchased the Galileo Galilei student residence in Valencia.

Stoneshield Capital, the investment fund owned by Juan Pepa, has purchased the Galileo Galilei student residence in Valencia, which had been owned until now by the Canadian pension fund CPPIB, according to EjePrime.

The fund owned by the former director of Neinor Homes and Lone Star has acquired this property, which has been on the market since the middle of 2018. The delay in the transaction was due to the size of the workforce, which comprises more than 100 workers. The consideration paid for the asset has not been disclosed.

Catella Buys a Student Residence in Sevilla

The company has closed the deal for €15 million through the CESHF II fund. The hall of residence is expected to open in 2021.

Catella Asset Management has bought a student residence in Sevilla for €15 million. The acquisition of this turnkey project, which will be ready in 2021, was completed through the Catella European Student Housing Fund II (CESHF II).

This is the second time that the Swedish company has bought an asset of this kind in the Spanish market. The first was the acquisition of the La Campana hall of residence in Pamplona in 2017. The CESHF II fund manages both assets.

Threestones Acquires its 5th Nursing Home in Spain

The Luxembourg-based firm Threestones has purchased the Puente Viesgo nursing home in Cantabria from Peninver Inversiones for its fund TSC Fund Eurocare Real Estate.

The property has 147 beds and facilities spanning 6,000 m2. It will now be managed by one of the largest groups in the European socio-health sector, Colisée, which will take over from Residencia Geriátrica Puente Viesgo.

This operation strengthens the position of Threestones in Spain, where it already owns 4 nursing homes in Tarragona, Ibiza, Burgos and Sant Cugat del Vallés.  

Franklin Templeton Teams Up with Meridia Capital to Invest in Social Properties

The US fund Franklin Templeton has joined forces with the Spanish manager Meridia Capital to invest in social properties on the Iberian Peninsula. By social properties, they refer to those that have a positive impact on society, such as hospitals, schools, universities and halls of residences for students, amongst others.

Vithas to Invest €30M in the Renovation of La Milagrosa Hospital in Madrid

Vithas has won the bid to operate La Milagrosa Hospital in the Madrilenian neighbourhood of Chamberí, after reaching an agreement with the Congregation of the Paúles Fathers, which will continue to own the property.

The Spanish hospital group plans to invest €30 million in a comprehensive renovation of the hospital, to expand, renew and update its technology and medical equipment, as well as to improve access to the building and make it more environmentally sustainable.

Following this operation, Vithas now operates twenty assets in Spain and three in the Spanish capital.

GSA Buys a Student Hall of Residence in Madrid for €50M

The British student accommodation specialist Global Student Accommodation (GSA) has purchased a hall of residence in Madrid from Corestate for more than €50 million.

The Luxembourg-based fund purchased the asset at the end of 2016 and has since converted it into a modern residence with more than 300 beds. The property is located on Paseo de Juan XXIII in the Ciudad Universitaria area of Madrid and operates under the Youniq brand.

Currently, there are more than 90,000 beds in student halls in Spain, although that figure is expected to rise by 16,500 over the next four years with the addition of 47 new halls of residence.

Original story: Expansión (by Rebeca Arroyo)

Translation/Summary: Carmel Drake