Sabadell to Convert Old Investment Fund Into a Trendy Socimi

25/03/2014 – Vozpopuli

Banco Sabadell decided to transform Sabadell BS Inmobiliario into a SOCIMI (a Spanish counterpart of a REIT firm). The vehicle is the last of this type as Santander and BBVA sold their companies with view to direct asset sales. Sabadell is planning to do the same but by employing the most popular vehicle recently: a Socimi. (…).

Since the beginning of the year, the most improtant operations witnessed in the market embraced the placement of Bankia and two listings: Grupo Lar and Hispania. The deals involved participation of such great investors as Pimco, Bestinver, Templeton or George Soros. (…).

Sabadell was considering operating as a unique real estate investment fund in the market, but seeing the growing interest it has taken the decision to let Sabadell BS Inmobiliario, that would manage €1 billion in assets, to family offices, large funds and individual buyers as a Listed Investment Company in the Property Market.



Original article: Vozpópuli (Manuel R. Torrents)

Translation: AURA REE