• Transaction / Assets
    Tauro Real Estate
  • Seller
    A private group of shareholders
  • Buyer
    Globe Invest (Teddy Sagi)
  • € MM

An Israeli Investor Acquires Tauro Real Estate for €180M

26 April 2018 – Eje Prime

The Spanish real estate sector is crossing borders and, in this vein, the latest investment in a domestic player comes from Israel. The multi-millionaire Teddy Sagi (pictured below), owner of Camden Market in London, has purchased the fund Tauro Real Estate, which owns 600 homes in Madrid and Barcelona. The operation, which has been closed for around €180 million, has been carried out through a British company owned by Sagi, Globe Invest.

Tauro’s shareholders have obtained gains of 100% from the sale of the company. Led by José María Xercavins, the Spanish fund had been controlled until now by businessmen from a number of sectors including publishing, with Roberto and Marco Drago, from Grupo De Agostini; and José Creuheras, a partner of the Italians as President of Planeta; and the food sector, represented by Albert Costafreda, formerly the owner of Panrico, and Silvio Elías, one of the former owners of Caprabo supermarkets, according to Expansión.

Tauro has grown its portfolio in less than four years through the purchase of assets, primarily from banks, in which it has invested up to €160 million. It owns 350 homes in Madrid and the remaining 250 properties are located in Barcelona. In the Catalan capital, its tourist apartments stand out since they account for 30% of the flats that Tauro owns in that city.

Sources at the Spanish company say that the sale was not sought, but rather is the consequence of an offer received, which changed the long-term plans that the owners had for the company. For their part, Tauro’s shareholders are already looking at the market with the intention of launching a new real estate investment vehicle.

Original story: Eje Prime

Translation: Carmel Drake