AliExpress Intent on Acquiring Land to Build a Logistics Platform in Seville

5 December 2019 – AliExpress, the international subsidiary of the Chinese e-commerce giant Alibaba, is looking to enter the fray in Europe by acquiring land for a major logistics centre in Spain. Just a year ago, the firm partnered with El Corte Inglés to open its first brick-and-mortar store on the continent, in Madrid. Now AliExpress, whose second-largest overseas market is Spain, is looking to develop a new logistics centre in the metropolitan area of ​​Seville.

The firm is following in the footsteps of its principal competitor, the US behemoth Amazon. AliExpress is now looking to build a 120,000-m2 logistics platform in the Megapark Business Estate, where its rival has a 200,000-m2 facility.

AliExpress’s immediate needs include an approximately 60,000-m2 warehouse, with the possibility of further expansion. Megapark benefits from easy access to rail, road and maritime transport links.

Original Story: El Confidencial – Carlos Pizá de Silva

Photo: Reuters

Adaptation/Translation: Richard D. K. Turner

Patrizia Looks to Invest Up to €500 Million in Spain and Portugal

2 December 2019 – The German investment fund Patrizia plans to invest up to 500 million euros in the Spanish and Portuguese real estate markets over the coming years. The fund currently intends to divide its investments between offices (40%), residences (40%) and logistics (20%) though the relative weight of each sector could vary. The firm is first looking to enter the market for student housing in 2020, either by building new facilities or acquiring in and will enter the market for student residences in 2020. Regardless, the firm would lease the facilities to outside operators.

Original Story: Eje Prime – Marc Vidal Ordeig

Adaptation/Translation: Richard D. K. Turner

Cerberus Looks to Expand in Spain

3 October 2019 – Cerberus is looking to increase its presence in the Spanish residential real estate market. The fund, which already owns Inmoglaciar, is in talks with investment banks to potentially acquire a larger developer to further enhance its activities in the Iberian peninsula.

Most recently, the US fund bid on Solvia Desarrollos Inmobiliarios’s developer. However, though the fund was a finalist in the bidding process, it lost out to Oaktree, which paid €880-million for the firm, including the company’s structure and landholdings.

Other international funds have been quicker to raise their games in Spain.  Lone Star acquired Neinor and eventually took it public. Castlelake created Aedas with a land bank acquired during the crisis and also took it public. Värde took over Aelca, Parquesol and Vía Célere.

Cerberus is aiming to build 3,000 homes a year, based on its ownership of Immoglaciar and other potential acquisitions. The latest possibility is Inmobiliaria Espacio, which the Villar Mir Group put up for sale two weeks ago.

Original Story: Cinco Días – Alfonso Simón Ruiz / Pablo Martín Simón

Adaptation/Translation: Richard D. K. Turner

BidX1, the Online Property Marketplace, Arrives in Spain with a Disruptive Business Model

18 September 2019  

  • The firm, which was founded in 2011, has already sold more than 8,000 assets of varying types in an array of international markets
  • BidX1 has a local team with 17 professionals who have extensive experience in the real estate sector and the Spanish market in particular
  • The first digital sale will take place in Spain on October 16th, where 100 properties will be on sale, ranging from residential to commercial, along with industrial assets and land for development

BidX1, Digital Real Estate Marketplace, which specialises in online property sales and has an extensive track record in the Irish and British markets, is inaugurating its European expansion strategy, opening an office in Spain. The company, which was founded in 2011, had a turnover of €1.5 billion (April 2019), gained through the sale of more than 8,000 assets of different types. €800 million of that corresponds to fully online sales by way of its powerful digital platform in just two years.

In Spain, the first digital sale – Sales Day – which will be mainly be aimed at institutional and private investors, will take place on October 16th.  At the time, 100 properties in more than 25 provinces will be on offer. The catalogue is already available, with properties starting at 50,000 euros and ranging to land for development, offices and industrial complexes with prices starting at more than 3 million euros.

A new and revolutionary proposal

BidX1 has succeeded in revolutionising the market in Ireland and the United Kingdom thanks to a new and innovative vision of the property market, offering both the buyer and the seller the platform’s inherent advantages: transparency, accessibility and efficiency.

Transparency is the key to the entire process. Buyers have all the information regarding the property at all times, and during the Sales Day you can see, in real-time, any offers made by registered users. In addition, the seller has all the information related to anyone interested in their property, thus obtaining valuable market information.

Accessibility is another major factor making BidX1 such a disruptive platform since it allows users to easily access and offer properties from wherever they are in the world. So far, users of more than 173 different nationalities have accessed the platform, with buyers from 25 countries. More than 40% of them completed their transactions using a mobile device.

Also, technology and experience come together to offer a completely efficient process. The availability of the documentation, the development of the entire online process and the possibility of having knowledgeable professionals with extensive experience in the sector available to its users has led to the purchase term falling to just ten weeks in Ireland and the United Kingdom.

The first step in a European expansion

The company’s success has not been unnoticed. Last year, the private equity firm, Pollen Street Capital, made a strategic investment in BidX1 to support its international expansion, which is beginning with an expansion to South Africa, Spain and Cyprus in 2019 and will continue throughout 2020 in countries such as Portugal, Italy and Greece.

Johnny Horgan, BidX1s’Managing Director for Europe, states that “it is a source of pride for us to continue BidX1’s international expansion in Spain. It is a mature market with significant potential, where we want to change how properties are bought and sold, betting on transparency throughout the entire process. Therefore, we are offering a disruptive platform that has been incredibly successful and very well received in Ireland, the United Kingdom and South Africa.”

Javier de Pablo, the Head of Property for BidX1 Spain, says that “the Spanish market is one of the most attractive in Europe, with a large volume of properties that, thanks to our Marketplace, we can offer in a transparent, simple and efficient way, both to Spanish and international buyers. ”

About BidX1

BidX1 is a Digital Real Estate Marketplace that focuses on the use of technology to improve the market for property sales. The company has developed a customised platform that allows user to buy or sell properties online from anywhere in the world, on any device, safely and efficiently.

The firm has had revenues of more than 800 million euros in just two years with the fully online sale of more than 4,000 assets of different types, from apartments to real estate portfolios, in multiple international markets through its advanced digital platform.

For further information please contact:

BidX1

Julio Aragón: Julio.Aragon@bidx1.com / 671 12 82 13

Kreab

Laura Llauradó: llaurado@kreab.com / 91 7027170 or +34 658 12 76 40

Eva Tuñas: etunas@kreab.com / 91 7027170

Reyes Pablo-Romero: rpablo@kreab.com / 91 7027170

 

Adaptation/Translation: Richard D. K. Turner

Vukile Looking to Launch Takeover of Lar España

10 September 2019

The South African firm, Vukile Property, is looking to take a stake in Socimi Lar España, a major investor in shopping centres, with 16 assets valued at 1.462 billion euros.

Vukile, which operates in Spain through Castellana Properties, has already arranged financing for the deal. UBS will represent the firm, while Lar España has hired Lazard.

Lar España was the first socimi to list on the continuous market and currently has a capitalisation of €615 million, a 36% discount to net asset value. Lar España’s largest shareholders, Pimco and Grupo Lar, are expected to insist on a 30% premium to the share price. The socimi ended the first semester with sales of €39 million and a net profit of 29 million euros.

Lar España has been focusing its investments on shopping centres, selling the office buildings it had in its portfolio, as well as logistic assets. In the last 18 months, the firm has raised €425 million, including the €120-million sale of a logistics portfolio to Blackstone and the €190-million sale of four office buildings in Madrid and Barcelona.

Lar España currently has fourteen assets in its portfolio, with a gross rental area of ​​580,000 m2 and a market value of €1.462 billion (June 30, 2019).

Original Story: Expansión – Rebeca Arroyo / Nicolás Sarriés.

Adaptation/Translation: Richard D. K. Turner

Belgium’s Cofinimmo to Invest in Geriatric Residences in Spain

10 September 2019

Cofinimmo, a Belgian socimi specialised in developing and managing rental properties, is now investing in the healthcare market. The company has begun construction on its first residence for senior citizens in Spain, in Vigo. Cofinimmo will also invest in a second such residence in the province of A Coruña.

Cofinimmo’s subsidiary Gloria Health Care Properties is building the residence in Vigo, with a planned investment of eight million euros. The 8-floor building will have a total of 140 beds and is expected to be ready by November 2020. Clece Vitam, geriatric facility management group responsible for 145 residences and 92 daycare centres throughout Spain, will manage the facility.

Original Story: Planta Doce – A. Escobar

Adaptation/Translation: Richard D. K. Turner

Barcelona’s Office Market Surges Two Years After Push for Catalonian Independence

4 September 2019

Barcelona’s office real estate market continues to break new ground as a record 256,000 m2 of office space were allocated in the first six months of the year, 30% more than the year before. The Catalan capital is considered one of the world’s best cities to work in, as evidenced by the fact that 48% of the allocations went to foreign firms.

The volume of investments also set a new record, reaching more than 600 million euros in the semester, a ten-year high. The increasing inflow of foreign investment capital is boosting the market, leading to the development of new buildings and a flurry of portfolio sales as firms sell off non-strategic assets to focus on their core activities. Two years after a referendum on Catalonian independence led thousands of companies to flee the region, new companies and investors are pouring in.

Tech companies have accounted for 27% of the allocated surface area, while co-working firms had another 22%. In the first six months of the year, co-working firms have snapped up 56,080 m2 of offices, more than the total for 2018.

The fervour in the market is leading to tightening supply, and the office vacancy rate has fallen to just 6.8%. That fall has led office rents in Barcelona to increase steadily for the last six years, and rents went up by 3% in the first semester of this year, largely powered by the prime and new business districts.

Original Story: El Confidencial

Adaptation/Translation: Richard D. K. Turner

 

Arab Investor Acquires 25-Hectare Estate Above Costa del Sol

7 August 2019

Mansour bin Zayed bin Sultan Al Nahyan, the deputy prime minister of the United Arab Emirates and half-brother of the current president, has acquired a 25-hectare estate, the Finca Moratán-Bornoque, located less than half an hour from Marbella and nearby a property owned by Julio Iglesias. The estate is 750 meters above sea level, in the town of Monda, between the Sierra de las Nieves Natural Park and the Costa del Sol.

Bonifacio Solís, one of the largest developers in Estepona and Marbella, sold the property to the Arab investor for 14 million euros, after initially having requested €16 million. The transaction was carried out through Al Nahyan’s firm East And West Investment Spain S.L., domiciled in Valencia de Alcántara.

Finca Moratán-Bornoque has a large farmhouse with a ground floor and an upper floor, with a constructed surface area of ​​1,104.71 square meters, a guest house, two guardhouses, three smaller farmhouses and a 72-meter pool with surrounding gardens.

The estate also consists of more than ten buildings for use with cattle and horses, along with a 60-meter dam used for irrigation and fire prevention.

Original Story: La Información – Ana Sánchez Juárez

Adaptation/Translation: Richard D. K. Turner

Amundi Acquires Co-Working Project from Conren Tramway for €55 Million

25 July 2019 – Richard D. K. Turner

Amundi, a major French asset manager, acquired an office building under development at Calle Sancho de Ávila, 65, in Barcelona’s @22. The firm paid Conren Tramway 56 million euros for the building, which is still under construction.  The building, however, has already been fully leased by Wojo, a French co-working firm owned by Accor.

The 7-floor building will have 8,300 square meters of surface area, parking facilities, storerooms, changing rooms and a rooftop terrace. Conren Tramway recently signed a leasing agreement whereby the Wojo will take over the property at a rate of  22.3 euros per square meter per month

Amundi’s operations in Spain began last year with its acquisition of the Portico building, in Madrid’s Campo de las Naciones, for approximately 130 million euros.

Original Story: Expansión – Marisa Anglés

 

Corestate to Invest €25 Million to Build New Student Residence in Salamanca

20 July 2019 – Richard D. K. Turner

Corestate Capital Holding, an investment fund based in Luxembourg, will invest 25 million euros to develop a student residence on Calle Santiago Diego Madrazo, next to the University of Salamanca.

The property will have a net leasable area of 4,000 square meters, including 258 flats and 301 beds. The building will also have several common areas such as a TV room, gym and terrace, along with 74 parking spaces.

Original Story: Eje Prime – Marta Casado Pla