Property Developer Cerquia Files for Creditor Bankruptcy with €50M Debt

7 February 2018 – Eje Prime

Cerquia Gestión has succumbed to creditor bankruptcy. The Spanish property developer, which has accumulated debt of more than €50 million, has been declared bankrupt today in the commercial court of first instance in Guadalajara.

With housing developments in progress in Guadalajara, Málaga, Valencia, Benasque, as well as in Lisbon and Estoril (Portugal), Cerquia held company assets of €46 million according to its most recently available annual accounts, for 2016, and reported by Crónica Global.

Created in 2006, the real estate asset manager owns a portfolio of seven office buildings for rent, located in Madrid, Lisbon and Guadalajara. Led by Carlos and Nuria Cercadillo, the property developer was created as the result of an alliance between several real estate professionals.

Original story: Eje Prime

Translation: Carmel Drake

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