Tag: Grupo Zriser

Serratosa Family Sells Alameda Building in Centre of Valencia to Loreto Mutua

2 October 2018

Grupo Zriser and Nefinsa reached an agreement with Loreto Mutua to sell the 11,000-m2 office building, which is located in the prime area of ​​Valencia, the capital of Turia.

The Serratosas just sold an iconic building Valencia. The family, through Grupo Zriser and Nefinsa, transferred the ownership of the Alameda building to Loreto Mutua. The asset, located in the centre of Valencia, has 11,000 square meters of offices.

Located on Antiga Senda de Senent Street, the property was acquired by the Serratosas in December 2009, when the family purchased it from Acciona Inmobiliaria. Currently, the building is completely occupied, in part due to its location, in one of the best office zones in the capital of Turia, according to the newspaper Expansión.

The sale of Alameda is part of Grupo Zriser’s strategic plans. The company is hoping to take advantage of the recent boom in the real estate market to sell some of the buildings in its portfolio.

Zriser’s most recent acquisition took place in December of last year when the group bought the former headquarters of Caja Madrid in Valencia from Goldman Sachs.

Original Story: EjePrime

Translation: Richard Turner

Grupo Zriser Sells the Alameda Building in Valencia

2 October 2018 – Valencia Plaza

Grupo Zriser, the investment arm owned by Ana and Pablo Serratosa, has sold the Alameda Building, located on Calle Antiga Senda de Senent in València. The buyer is the fund Loreto Mutua, previously known as Montepío Loreto, and linked to workers in the aviation sector, and a historical shareholder of the now extinct Banco Valencia.

The building, which was acquired by Grupo Zriser from Acciona Inmobiliaria in December 2009, has a surface area of more than 11,000 m2 dedicated in its entirety to offices and parking spaces. The building is fully occupied and is located in one of the premium areas of the city for business activity.

This operation, which according to real estate sources has been brokered by Olivares Consultores, forms part of Grupo Zriser’s strategic plan, which considers both the selective divestment of buildings and corporate stakes, as well as the acquisition of industrial companies, real estate assets and technologies.

“The Alameda Building is one of the most iconic office buildings in Valencia, located in one of the best business districts”, said Pablo Serratosa, Chairman of Grupo Zriser. “Moreover, it has a very well-diversified tenant base by solvency and commitment to the building; it is undoubtedly a great asset” (…).

In recent years, Grupo Inmobiliario Zriser, founded in 2007 following the departure of Ana and Pablo Serratosa from Nefinsa, has become one of the major real estate companies in the city by volume of gross leasable area. Its tenants include local companies and multinationals alike (…).

Original story: Valencia Plaza (by Estefanía Pastor)

Translation: Carmel Drake

Zriser Made a Profit of €14M from Sale of 2 Properties in 2016

5 January 2018 – Valencia Plaza

Inversiones Grupo Zriser, the company that groups together the rental assets of Ana and Pablo Serratosa (pictured below), closed 2016 with the sale of two properties that generated a profit of €14.3 million. That is according to the Directors’ Report in the company’s consolidated accounts, which shows that 2016 was a good year for the investment vehicle owned by the Serratosa siblings.

One of Zriser’s most important sales – at the beginning of 2016 – was the Generali building, located at number 29 Plaza del Ayuntamiento in Valencia, to the businessman Juan Luis Gómez-Trenor, who was the founder of the now extinct Colebega and shareholder of Coca-Cola Iberian Partner.

Zriser purchased the building from Generali Seguros for €29 million and sold it for more than €30 million, almost 50% more. The building, next door to the Town Hall, is located in the financial and retail centre of the city and houses the regional headquarters of Generali Seguros in the Community of Valencia and a branch of the company; the main tenant of the property is the law firm Garrigues.

The other property sold by Zriser in 2016 – in the month of November – is located on Paseo de Ruzafa 18 and is known for housing one of the first Berskha (an Inditex brand) stores in the centre of Valencia. That property has a surface area of more than 2,200 m2 spread over a basement level, commercial space and commercial mezzanine, plus four additional floors, measuring 400 m2 each in a strategic location and where Décimas opened. The two operations were advised by Olivares Consultores.

Turnover rose by 48% in 2016

Inversiones Grupo Zriser, where the siblings also consolidate their other investee companies, generated a turnover of €48 million in 2016, up by 48% compared to 2015, when the figure amounted to €32.4 million. An even greater improvement was seen in terms of profits, which rose from €598,770.15 in 2015 to €7.88 million in 2016.

The accounts also reflect some losses due to impairment as a result of the results obtained by certain companies and a failure to fulfil some of the business plans initially set out. That happened in the case of the machinery company Inrema for a value of €408,957; Punt Mobles XXI, for €974,561.34; and Auditorías de Medios SL, for €1.6 million.

In subsequent events, the accounts also highlight the sale in 2017 of the company Moldcom Composites (McBath), specialising in resin bath products, to Nazca Capital. In this regard, the financial statements indicate that the transaction generated “significant” profits for Zriser.

Original story: Valencia Plaza (by Estefanía Pastor)

Translation: Carmel Drake

Zriser Sells Building On Paseo de Ruzafa In Valencia

21 November 2016 – Real Estate Press

Grupo Zriser, the investment firm owned by the siblings Ana and Pablo Serratosa, has sold a property on Paseo de Ruzafa, 18, six months after buying it.

The property has a surface area of more than 2,200 m2 spread over the basement, ground- and mezzanine-level retail premises, as well as four additional floors measuring 400 m2 each.

The retail premises used to be occupied by Bershka, until it opened its flagship store on Calle Colon 32, in January this year.

The store is located on the section of the street that connects Plaza del Ayuntamiento with Colón and its extension along Calle Ruzafa runs as far as the new retail space, measuring more than 7,000 m2, where Primark is due to open a new store after Christmas.

A few months ago, Grupo Zriser also sold the Generali building, located at number 29 on Plaza del Ayuntamiento in Valencia, to the businessman Juan Luis Gómez-Trenor, founder of the now extinct firm Colebega and shareholder of Coca Cola Iberian Partner.

Zriser acquired the building, which it has sold to a Valencian family office, in an operation advised and brokered by Olivares Consultores, who are also marketing the rental of the property, through the second fund managed by the group owned by the Serratosa siblings, with significant Valencian investors.

Original story: Real Estate Press

Translation: Carmel Drake