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Aedas Homes Evaluates the Purchase of ‘Solvia Desarrollos Inmobiliarios’

28 February 2019 – Idealista

Aedas Homes is evaluating the possible purchase of Sabadell’s property developer, Solvia Desarrollos Inmobiliarios (SDIN). The listed real estate firm, controlled by the US fund Castlelake, is interested in acquiring the property developer and its land from Banco Sabadell for more than €1 billion.

Other large funds and property developers have also expressed their interest, including Cerberus, Oaktree and Bain Capital (through its property developer Habitat), but Aedas is deciding whether to bid just for the land or for the company as well. Last week, Neinor announced that it was withdrawing from the process.

Last year, Aedas handed over 231 new homes and purchased land for the construction of another 2,600 units. This year, it plans to purchase land for the construction of at least 1,000 homes and expects to hand over 1,055. By 2022, the property developer intends to reach its cruising speed in terms of the handover of new homes.

Original story: Idealista 

Summary/Translation: Carmel Drake