alternative Assets News: Spanish Real Estate Intelligence

Fidelidade Forced to Give Up Control of Saudinveste Real Estate Fund
11 November 2019 –  Fidelidade has been forced to give up control of a real estate fund, Saudinveste. The fund invests in the acquisition and operation of hospitals, assisted-care residences and other facilities. Portugal’s Competition Authority had been investigating the insurer’s acquisition of such real estate funds and their potential effects on competition. Saudinveste owns a series of properties that are currently leased to Lusíadas Saúde, a direct competitor to Fidelidade’s subsidiary Luz Saúde. The Competition Authority based its decision to terminate the merger on concerns regarding possible threats to competition. The investigation came after Fidelidade acquired the real estate investment funds Saudeinveste and Bonança I . Fidelidade's had been running Saudinveste since October 2018. Original Story: Jornal Expresso - Diogo Cavaleiro Adaptation/Translation: Richard D. K. Turner
Álvaro Covões and Horizon Equity Partners Acquire Campo Pequeno for €37 Million
4 November 2019 – The executive Álvaro Covões and the infrastructure management fund Horizon Equity Partners have just acquired the Campo Pequeno event space for 37 million euros. The two acquired the asset, which was in receivership, from the Sociedade de Renovação do Campo Pequeno and its creditor bank, BCP. Álvaro Covões will manage the event space and shopping centre, while Horizon, which is controlled by the former Secretary of State for Infrastructure, Transport and Communications, Sérgio Monteiro and António Pires de Lima, will manage the parking facilities. Original Story: Jornal Econômico - Maria Teixeira Alves Adaptation/Translation: Richard D. K. Turner
Fintech House Co-Working Space to Open Next Month in Lisbon
4 November 2019 – A new co-working space for fintech start-ups will open in Lisbon next month, in a partnership between Portugal Fintech and Sitio. The new office, on the Praça da Alegria, has 170 places dedicated to fintech, cybersecurity and other tech start-ups. Sitio, which also runs ten locations in Lisbon and Porto, will manage the site’s operations.   The 5-floor Fintech House will have a 100 square meter auditorium for events. Of the 170 spaces, only 40 are still available, with monthly rates starting at 200 euros. Original Story: Economia Online - Leonor Mateus Ferreira Adaptation/Translation: Richard D. K. Turner