29 March 2018
The real estate developer, with a portfolio of land sufficient for 13,000 homes, is studying the creation of a joint venture with Sareb.
Aedas Homes may be studying one of the corporate deals of the year. The real estate developer, with a land portfolio to build 13,000 homes, is studying the creation of a joint venture with Sareb, which is in the process of searching for an industrial partner.
As Hernando de Soto, Aedas Homes’ director of investor relations explained to El Economista, “if the land is attractive and meets the characteristics that we require, we could ally ourselves with Sareb: obviously we are talking about a very significant deal, so we would have to look for alternative financing, since our current funding levels would not be sufficient.”
On the other hand, the firm does not rule out growth through the acquisition of smaller developers. “If there is the possibility of acquiring good land, at a given time, we will consider the possibility of acquiring a local developer,” the executive explained, noting, however, that Aedas’ goal is to acquire more land, and ensured that its strategy is to buy land with the capacity for some 1,040 more homes this year.
Original Story: EjePrime
Translation: Richard Turner