Category: Alternative Assets

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.

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.

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.

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.

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.