Emesa Segregates its Activity & Creates a Dedicated Real Estate Company

14 May 2018 – Eje Prime

Emesa is showing that it’s serious about its real estate business. The investor group owned by Emilio Cuatrecasas is immersed in a company reorganisation, which will lead him to segregate his business into two: one division will be destined to corporate investment and the other to real estate investment. The group has recently created the first company to this end, Emesa Real Estate, which will have Emesa Corporación Empresarial as its sole shareholder and Ferrán Forrellad as the administrator.

According to the Official Bulletin of the Mercantile Registry, the constitution of Emesa Real Estate is the first step being taken by the group to initiate its corporate restructuring. Although the company already operated its real estate business through the holding company Emesa Corporación Empresarial, from now on, it will channel all of its operations in the real estate sector through one specific company.

Meanwhile, the other arm of Emesa’s business, Emesa Capital, will be managed by Vanessa Llopar, who has served as the CEO of that division since March. Through that subsidiary, Emesa is investing in companies in various sectors, from healthcare companies, such as Devicare, to companies specialising in urban storage, such as Boxinfiniti.

Thus, Emesa’s new plans in the Spanish real estate sector will be conducted directly by this new division. The group is going to invest more than €100 million in Barcelona and its surrounding area, as revealed by Eje Prime, in order to launch new residential projects, office buildings and hotels.

Even so, the company’s involvement in the real estate sector dates back years. Emesa first leapt into the property development world with a building in the heart of Barcelona’s 22@ district, which is now the headquarters of the law firm Cuatrecasas in the Catalan capital.

The group, which has increased its workforce by threefold over the last three years, from seven employees to twenty-one, is now in the preliminary phase of constructing a new office building in the same area, at number 184 Calle Pallars. Designed by the architecture studio BAAS, Emesa is going to invest €25 million in that new asset, which will have an above ground surface area of 9,200 m2 and 5,000 m2 of space below ground level.

Moreover, in recent months, Emesa has starred in several high-profile operations in the Barcelona real estate market, such as the purchase of the Diagonal 444 building, the former headquarters of Cuatrecasas; and of the Diagonal 632 building, which is the headquarters of the Quirónsalud’s Ophthalmological Institute in Barcelona.

And from one side of Avenida Diagonal to the other. As Eje Prime revealed, Emesa acquired 37,000 m2 in Finestrellas, an up and coming area, which will include offices, residential properties and a commercial area. The project in which Emesa is participating involves an office development spanning 90,000 m2, in which it has invested €80 million and which is expected to be fully operational by 2023 (the construction work will begin in 2020).

Emesa also plans to make headway in the residential sector over the next few years. The company is going to build a development containing 40 homes for rent in Badalona after investing €12 million in this project.

Currently, the portfolio of Emesa Corporación spans more than 180,000 m2 and is worth more than €750 million. Emesa Corporación Empresarial generated revenues of €8.07 million last year.

Original story: Eje Prime (by C. Pareja)

Translation: Carmel Drake

Emesa Plans to Invest €100M in New RE Projects Between Now & 2023

13 April 2018 – Eje Prime

Emesa Corporación, the investment company owned by Emilio Cuatrecasas, is committed to the real estate business. The group is going to invest more than €100 million in Barcelona and the surrounding area to launch new projects in the residential, office building and hotel sectors, according to explanations provided by Ferran Forrellad (pictured below), CEO of Emesa, speaking to EjePrime in an interview.

Launched in 1980, Emesa Corporación has been turning its activity, step by step, into a business model in which it can operate comfortably. “The turning point came in 2015 when we went from being a company that bought, managed and operated, into being a company that develops and creates business”, explains Forrellad. “We want to be a player in the real estate sector that controls its projects from the beginning until the end”, he adds.

Emesa, which in addition to its real estate arm also has a business area destined to acquiring stakes in the share capital of companies in full growth (such as the case of the company specialising in storerooms Boxinfiniti), threw itself wholeheartedly into property development with a building in the 22@ district of Barcelona, which is now the headquarters of the law firm Cuatrecasas.

The group, which has multiplied its workforce by three-fold over the last three years, from seven employees to twenty-one, is now in the preliminary phase of constructing a new office building in the 22@ district, at number 184 Calle Pallars. Designed by the architecture firm BAAS, Emesa is going to invest €25 million in the new asset, which will have an above-ground surface area of 9,200 m2, as well as 5,000 m2 below ground. “It will be finished during the third quarter of 2020”, says Forrellad.

“We want to create unique buildings in Barcelona and we are on the lookout for new plots in 22@ on which to build more offices since we firmly believe that it is one of the areas of the future in the city, both for business and homes”, said the company’s CEO.

In recent months, the company has starred in several high profile operations in the Barcelona real estate market, such as the purchase of the Diagonal 444 building, the former headquarters of Cuatrecasas; and the Diagonal 632 building, which houses the headquarters of Quirónsalud Barcelona’s Ophthalmological Institute.

And from one side of La Diagonal to the other. As Eje Prime revealed, Emesa acquired 37,000 m2 of land in Finestrellas, a new development area, which is going to include offices, residential properties and a commercial area. The project in which Emesa is participating constitutes a 90,000 m2 office development, in which it has invested €80 million and which is hopes will be fully operational by 2023 (construction work begins in 2020).

Emesa will also focus on the residential business over the next few years. The company is going to build a development comprising forty homes for rent in Badalona after investing €12 million in this project. According to the forecasts of Emesa, which is on the verge of receiving approval for its licences, the project will be launched in 2020 and has been designed by the architecture firm Barozzi Veira (…).

Last year, the company also purchased the Ullastret Palace in Girona, with the aim of turning it into a high-end hotel, which is going to be the first of a chain of select hotels in El Empordà. (…).

Currently, the portfolio owned by Emesa Corporación spans more than 180,000 m2 and is worth more than €750 million. Emesa Corporación Empresarial generated turnover of €8.07 million last year.

Original story: Eje Prime (by C. Pareja)

Translation: Carmel Drake

Emesa’s Storage Space Company Boxinfiniti Debuts in Madrid with 5,100m2

22 March 2018 – Eje Prime

Emesa, the investment group owned by Emilio Cuatrecasas, is continuing to grow the businesses in which it operates. Boxinfiniti, which specialises in the rental of storage space and in which Emesa holds a stake, has made its debut in Madrid with the absorption of 5,100 m2 spread over three locations.

Two of the premises are located in the centre of Madrid (in the Cuatro Caminos-Nuevos Ministerios and Pacífico areas, close to Atocha station) and the third is located in Alcorcón. Together, the sites span a total surface area of 5,100 m2.

In Barcelona, with the upcoming opening of four new centres in the process of being implemented, the total surface area under management will increase by 3,650 m2. The new establishments there are located in the neighbourhoods of Eixample, Gràcia and Sants, in Barcelona and in Santa Coloma de Gramenet.

With these openings, Boxinfiniti, led by Luis Casanovas, is expanding its network to include thirteen storage centres in Barcelona and Madrid. “The company is constantly on the lookout for premises in the best locations of Barcelona and Madrid within the framework of its strategic plan”, according to sources at the group.

Original story: Eje Prime

Translation: Carmel Drake