Owner Of Torre Ámbar Will Debut On MAB In 2017

25 October 2016 – El Economista

Inveriplus, the owner of Torre Ámbar, one of the skyscrapers that makes up the residential area of Isla Chamartín, will debut on the MAB next year. The firm, which specialises in the transformation of toxic assets into liquid assets, has already created a company under the Socimi framework and wants to complete its first operations before the end of the year.

“We have not chosen a trading name yet”, explained Oscar Bellette, the Executive Director of the firm, but he assured that advanced negotiations are already underway regarding the Socimi’s purchase of two residential properties in Madrid.

One of them is the iconic Torre Ámbar, located in the north of Madrid, which was constructed during the years of the property boom in Spain. Inveriplus already owns 50% of the homes in the building – it managed to sell the rest – but is currently holding conversations with the creditor banks to cancel the debt.

Bellette explained that his firm is also working with lenders of a property on Calle Apolonia Morales and that it has already reached an agreement with BBVA to cancel the debt relating to a group of chalets in a town in Valencia.

All of these assets already form part of its portfolio, but the investment that has been earmarked for their financial clean up operations amounts to between €22 million and €24 million.

Original story: El Economista (by Alba Brualla)

Translation: Carmel Drake