The US fund Värde has put up for sale its 38% stake in the Socimi La Finca Global Assets controlled by the Cereceda family, which owns the Pozuelo business park, one of the most prominent office complexes in the north of Madrid. The company is accelerating its round of contact with private equity funds and institutional investors, to take advantage of the positive performance of the firm and the fact that it has now been a shareholder of the company for more than three years, according to Expansión.
The Socimi owns a portfolio of 11 office assets in prime locations in Madrid, such as the La Finca business park comprising 20 buildings in Pozuelo de Alarcón (Madrid). At the end of 2019, the valuation of the company amounted to €790 million. Susana García Cereceda owns 50% of La Finca Global Asset; the fund Värde owns 38% through Mansfield Invest; and Yolanda García-Cereceda owns almost 11%.
Translation/Summary: Carmel Drake