Goldman Sachs Trims Its Stake in Merlin Down to 2.8%

13/10/2014 – Expansion

Goldman Sachs has cut in its participation in Socimi (REIT) Merlin Properties from 3% to 2.78%, a stake valued at around €35.8 million.

According to the records of the National Stock Exchange Market Commission (or the CNMV by its acronym in Spanish), the entity sold a 2 million share package. Originally, Goldman Sachs held 4.9% purchased at the vehicle’s IPO on June 30th, said to have been the greatest initial public offering since July 2011.

The majority stakeholder in Merlin Properties is UBS (11.6%, worth of €144 million), closely followed by Marketfield Asset Management LLC (10.6%), EJF Capital (3.9%) and Monarch Master Funding 2 (3.8%).

The Socimi has invested about €1.25 billion out of the €1.29 billion amount raised while going public. The equity was spent on retails, shopping malls, offices and logistics hubs. In total, Merlin’s portfolio encompasses 575.000 m2 of GLA and returns more than €122 million annually.


Original article: Expansión

Translation: AURA REE