• Transaction / Assets
    3.5% of Neinor Homes
  • Seller
  • Buyer
    Adar Capital Partners
  • € MM

Israeli Fund Adar Buys 3.5% of Neinor to Increase its Stake to 15.4%

8 March 2018 – Eje Prime

Neinor Homes is continuing to attract attention from international investors. The Israeli fund Adar has purchased an additional 3.5% of the property developer’s share capital, according to a statement filed by the group with Spain’s National Securities and Exchange Commission (CNMV). In this way, the fund now controls 15.4% of the group.

The package acquired by Adar coincides with the percentage that the US fund Wellington sold a week ago. The Israeli fund has reaffirmed its commitment to the stock in the midst of an attack by bearish speculators, who have doubled their presence in Neinor to reach a record level of 4.5% of its share capital, according to Expansión.

The property developer’s roadmap until 2022 involves investing €1.5 billion in order to hand over 15,000 homes during that period. Neinor’s portfolio of homes in stock currently amounts to 12,472 compared to 9,025 last year.

Original story: Eje Prime

Translation: Carmel Drake