20 August 2019
Cerberus is offering 14.05 euros per share for 92.88% of Optimum Re Spain’s share capital, valuing the socimi at a total of 70.25 million euros. The fund also agreed to acquire the final 7.12% at a future told, while also offering to take 100% right away, at the reduced price of 13.28 euros per share. Optimum Re Spain was trading at €13.30/share earlier this week.
The US fund is looking to boost its portfolio of residential rental properties. Optimum Re Spain has a portfolio of 16 residential rental buildings in Barcelona.
Original Story: Expansión – José Orihuel
Adaptation/Translation: Richard D. K. Turner