CTH Capital Awarded ‘Golf Hills Village’ Complex In Estepona

21 January 2015 – El Mundo

The complex has 152 homes, with a total surface area of 14,762 square metres.

It is a particularly attractive asset for international developers and investors.

The company CTH Capital has been awarded the residential complex Golf Hills Village through an auction organised by the property consultant BNP Paribas Real Estate. The property, located in Estepona, in the area known as Selwo, has 152 newly built homes. In total, the above ground surface area occupies 14,762 square metres.

“Transactions such as this one highlight the growing interest in the Spanish real estate sector from international investors. In this sense, the Costa del Sol has a clear advantage since it is a landmark tourist destination and also benefits from high quality infrastructure”, says CBRE, a company that advised CTH Capital in its purchase of the complex.

The auction was conducted through sealed bids in the presence of a notary and had the distinction of being the first in Spain of an asset under construction. Nevertheless, the building work at the complex is in the advanced phase, with more than 95% of the basic project now complete.

An attractive asset for international investors

“As we explained during the presentation of the auction, the characteristics of this asset made it particularly attractive for international developers and investors, which has been proven at the close”, says Irene Valbuena, Head of Auctions at BNP Paribas Real Estate. “Furthermore, the transaction confirms the interest of international investors in Spanish assets and shows how they are adopting value-added strategies to enter into our market, such as in this case, where the construction work still needs to be completed”.

CTH Capital is dedicated to the management and investment of real estate, and is based in London, UK. The company specialises in direct investments with a special focus on investments in hotels and second homes.

CTH Capital has made its investment under a joint venture with the property developer and constructor, JAMSA, which has more than 40 years of experience developing property in Spain and overseas (Dominican Republic, Florida, Romania).

Original story: El Mundo

Translation: Carmel Drake

Investment in Non-Residential RE Reaches €5 Bn, Up 34% Over Entire 2013

30/10/2014 – Expansion

During the first nine months of 2014, a nearly €5.04 billion amount was spent on the Spanish real estate. The score beats the 2013 figures by 34%, reports BNP Paribas Real Estate.

The company estimates that the data ‘reflects sustainable interest of investors, both domestic and foreign, in a market offering prices close to the bottom levels’.

BNP says Socimis (Spanish REITs) contributed to the numbers significantly as they have spent €2 billion on residential and commercial real estate in Spain.

The firm claims that beyond these vehicles stands the ‘unsatisfied appetite of international investors who invested the equity throught various formulas’.

Most 2014 active so far have been the Northern American, the British, the Asian and the Latin American investors. Speaking of the asset types, prime retail parks are considered the engine of this year’s bumper investment as they account for 32% of the total, although behind the office sector (34%). Hotels repesented 20%, while logistics units 9% of the whole investment volume.

The Investment director at BNP Paribas Real Estate España, Francisco Manchon, stated that ‘2014 is exceptional in terms of real estate spending. The market has stayed at its lows when it comes to return and capital value since the end of 90s and this drew attention of those who found out that Europe alternative markets are worn-out’, the executive highlighted.

 

Original article: Expansión

Translation: AURA REE