9 September 2019
LaFinca Global Assets, which is owned by Grupo La Finca and Värde Partners, was given the green light by the MAB for a new stock market listing. The firm has a portfolio of ten office buildings, all of them located in Madrid, the La Finca business park in Pozuelo de Alarcón, also Madrid, along with other facilities such as the Reebok sport club, an event-space and a below ground parking lot with 590 parking spots.
The company’s assets have a total value of €726.76 million with debts of €395 million, giving it a loan-to-value ratio of 54%. LaFinca set an initial share price of €4.66, based on an analysis by Gloval, giving it an upper value of more than €176 million.
Värde Partners has signalled a potential interest in selling its 39% stake in the socimi. In such an event, Grupo La Finca would have the preferential right to acquire the US fund’s stake.
Original Story: Expansión – Rocío Ruiz
Adaptation/Translation: Richard D. K. Turner
14 February 2017 – IPE Real Estate
Allianz Real Estate has entered Spain’s office market by issuing a €155m loan.
The German institution took part in a €395m financing for Spanish property company La Finca.
The loan is the third real estate debt transaction by Allianz Real Estate in Spain and its first office loan in the Spanish market.
Allianz opened its office in Spain late last year.
Its head of Iberia, Miguel Torres, said: “Over more than 40 years, Grupo La Finca has demonstrated its capacity to develop high-quality offices, endowed with the conditions demanded by the companies of today, so we are fully confident in the value of our investment, and we hope to expand our relationship with them in the long term.”
La Finca owns around 230,000 sqm of assets, with an average occupancy rate of 90% leased to a range of tenants.
The firm will focus on managing and growing its existing portfolio whilst refinancing older facilities.
Original story: IPE Real Estate
Edited by: Carmel Drake