3 February 2016 – Expansión
The US investment company Harbert Management Corporation (HMC) is the latest firm to adopt the Socimi formula to undertake its investments in Spain. HMC has just obtained approval from Spain’s Alternative Investment Market for its Socimi, Heref Habaneras, to list on the exchange. This real estate investment company is the owner of the Habaneras shopping centre in Torrevieja (Alicante), which it acquired at the end of 2014.
According to the information submitted to MAB, one of the reasons it has opted for this instrument is “to be in a beneficial competitive position to make potential acquisitions of new assets”. The structure also facilitates the incorporation of new investors, as well as financing for this growth.
The Socimi Heref Habaneras will debut on the MAB on Friday at a price of €4.37 per share, which represents a company valuation of €22.1 million.
Original story: Expansión
Translation: Carmel Drake