A group of investors led by Moisés El-Mann has acquired 253 branches which are rented to Banco Sabadell, in the first great real estate operation of that Mexican businessman in Spain. El-Mann and his partners will pay 290 million Euros for those branches, located mainly in Madrid and Barcelona to Moor Park Capital Partners.
This British fund acquired 378 branches from Banco Sabadell in 2010 for 405 million Euros, with a rental agreement for 25 years. Before the agreement with Moisés El-Mann, who inherits the rental agreement with Sabadell until 2035, the firm Moor Park Capital had already transferred 125 offices to other investors. Sources close to Moor Park Capital assure that the firm is looking for new real estate opportunities in Spain, after having emptied its portfolio of Sabadell branches.
Moisés El-Mann also intends to develop new operations in Spain and other European countries to diversify the presence in the national market. This investor participates in a real estate company in Mexico, called Fibra Uno, which has commercial, industrial and office properties with a surface of 3,2 million square meters.
Clifford Chance, Garrigues and CBRE have assessed Moor Park, while Santander and Uría Menendez have done the same with El-Mann. (…)