Habitat Makes Pre-Sales of 1,000 Homes Worth €225 Million

12 December 2019 – In the first nine months of the year, Habitat has made 1,000 pre-sales of homes, worth a total of 225 million euros. The pre-sales, which will be finalised as the homes are delivered over the next two to three years, are in line with the firm’s intention to reach 2,000 units sold per year by 2021.  Habitat is planning to invest 500 million euros in acquiring land for development in pursuit of its goals.

Habitat has 46 active developments in Spain. The 1,000 pre-sales are a part of 43 different developments. The firm has a total of 4,000 homes on sale, and it has delivered 327 in the year to date.

Original Story: Expansión – Rebeca Arroyo

Adaptation/Translation: Richard D. K. Turner

Habitat Acquires Plot of Land in Badalona from Emesa for €5 Million

4 September 2019

Emesa, a real estate firm owned by the Barcelona-based attorney Emilio Cuatrecasas, sold a plot of land in Badalona (Barcelona) to the real estate developer Habitat for about five million euros.

The deal will add a total of 2,300 m2 of surface area and 3,000 m2 of buildable area in the neighbourhood of El Gorg, in Badalona, to Habitat’s portfolio. The company is planning to build forty homes on the land, investing more than thirteen million euros.

The acquisition is part of the company’s strategic plan, where it is currently undertaking more than 43 developments with a total of 3,800 homes.

Original Story: Idealista – Custodio Pareja

Adaptation/Translation: Richard D. K. Turner

 

Habitat Acquires Plot of Land for Housing Development in Girona

15 July 2019

Habitat Inmobiliaria acquired a plot of land with 3,700 square meters of surface area and 10,350 square meters of buildable area in the Eixample Sud-Migdia neighbourhood, in Girona. The company will invest a total of 23 million euros to develop 90 homes.

The acquisition is a part of the firm’s plans to deliver more than 2,000 new home per year from 2021.

Original Story: EjePrime

Adaptation/Translation: Richard D. K. Turner

Sabadell’s Board Evaluates 3 Offers Amounting to c. €850M For its Property Developer

28 May 2019 – El Confidencial

On Monday, Banco Sabadell received three binding offers for its property developer, Sabadell Desarrollos Inmobiliarios, from the funds Cerberus, Oaktree and a third unknown candidate, amounting to between €800 million and €900 million.

The board of directors of the Catalan entity chaired by Josep Oliu now needs to decide whether to accept one of them and thereby pave the way for the creation of a new major player in the Spanish property developer sector to compete alongside the likes of Neinor, Metrovacesa, Vía Célere and Aedas.

Oaktree has been the favourite in the bidding for the last few months given its good relationship with Sabadell and with the property developer itself, with which it already operates at least one joint venture. It would represent the US investor’s first operation of its kind in Spain, where it currently has a small platform with just 20 employees.

Nevertheless, Cerberus has been gaining ground. Unlike Oaktree, the US giant already has a property development platform in Spain, Inmoglacier, to which it wants to supply new land (which SDin owns). Cerberus could also benefit from synergies between the two firms.

Meanwhile, the identity of the third candidate remains confidential, but possible contenders include Habitat (Bain Capital), Aedas and the Canadian fund CPPIB, which were all reported to be evaluating the purchase during the preliminary phase.

Initially, Sabadell was hoping to receive more than €1 billion for its property developer, but following uncertainty in the sector in recent months and the sale of several assets, it will have to accept a more modest price if a sale is to be agreed.

Original story: El Confidencial (by Jorge Zuloaga)

Translation/Summary: Carmel Drake

Habitat Leaves its Losses Behind after €500M Capital Injection from Bain

2 April 2019 – Expansión

Habitat Inmobiliaria recorded revenues of €89 million in 2018, six times more than during the previous year. It also generated a profit, registering an EBITDA of €1.8 million, compared with losses of €9.86 million in 2017.

According to the company, this change in fortune has come about following its purchase by the US investment firm Bain Capital Credit at the end of 2017. Last year, Bain and Habitat’s new management team, launched a new strategic plan for the next three years, which included the contribution of €500 million for land purchases.

In 2018 alone, the property developer invested €121 million buying up land with a total buildability of 300,000 m2. As such, Habitat now owns a land bank spanning more than 1 million m2, which will allow it to build 10,000 new homes over the next few years. Currently, the property developer is working on the construction of 3,400 homes.

Original story: Expansión (by Rocío Ruiz)

Translation/Summary: Carmel Drake

Habitat Acquires a Plot in Valencia for the Construction of 96 Homes

29 March 2019 – Levante EMV

The property developer Habitat has purchased a plot of land on Calle Bomber Ramón Duart in the Quatre Carreres neighbourhood of Valencia, for the construction a 96-home residential property. The company, which is backed by the US fund Bain Capital, is already building 600 homes in the Community of Valencia and plans to invest €500 million in land purchases across Spain between now and 2021.

In its latest operation, the real estate company has acquired a plot measuring more than 3,100 m2 with a buildability of 14,000 m2, which will involve a total investment, including the construction work, of €30 million. The operation forms part of the strategic and business plan that the company, chaired by Juan María Nin and led by José Carlos Saz, is carrying out.

Original story: Levante EMV (by Ramón Ferrando)

Translation/Summary: Carmel Drake

Habitat Invests €14M to Promote 88 Homes in Castellón

21 March 2019 – Eje Prime

Habitat Inmobiliaria has purchased a plot of land measuring 4,400 m2 in Castellón, with a buildability of more than 8,800 m2, on which to construct 88 homes for €14 million.

The plot is located in the La Salera neighbourhood, twenty minutes from the beach. Marketing of the homes is expected to begin in the second quarter of this year.

The development forms part of the company’s strategic plan to invest €500 million before 2021 and to hand over more than 2,000 homes per year from 2021.

Original story: Eje Prime 

Translation/Summary: Carmel Drake

Bain Capital Launches a €1.25bn Fund to Invest in Europe

10 March 2019 – Eje Prime

Bain Capital has created a fund to invest €1.25 billion in European real estate. The US investment group is expected to concentrate a large part of that investment in Spain, where it already controls the property developer Habitat.

The target of the new fund will be portfolios of non-performing loans and non-strategic assets, of which there are plenty in the Spanish market.

Bain Capital has acquired several portfolios from financial institutions in Spain in recent years with a gross value of €3.5 billion.

Original story: Eje Prime

Translation: Carmel Drake

Habitat’s Land Portfolio Now Spans 1 million m2 with Capacity to Build 10,000 Homes

9 March 2019 – Expansión

The property developer Habitat now owns more than 1 million m2 of land after investing €121 million last year to expand its portfolio. As such, the firm led by José Carlos Saz (pictured below) has the capacity to build around 10,000 homes. Specifically, the firm backed by Bain Capital acquired 27 plots last year on which to build around 2,500 homes. 5% of those plots were non-buildable (in the process of being approved for construction).

The company expects to reach cruising speed with the delivery of 2,000 homes per year from 2021 onwards. Last year, it handed over 270 homes across 4 developments in Barcelona, Málaga and Madrid, to generate turnover of €89 million, EBITDA of €1.83 million and a net profit of €250,000. The company plans to invest €500 million in land purchases until 2021, financed by Bain.

Moreover, like its competitors Neinor, Aedas and Metrovacesa, Habitat is also considering entering the rental home sector and may even begin to build developments for Socimis.

Original story: Expansión (by Rebeca Arroyo)

Translation: Carmel Drake

Habitat Invests €10M to Build 40 Homes in Málaga

8 March 2019 – Eje Prime

Habitat, the property developer backed by Bain Capital, has acquired more than 11,000 m2 of land in the province of Málaga for €10 million on which it is going to develop 40 homes. Marketing of the properties will begin during the first half of 2019.

The urbanisation is going to be located on Calle Óscar Arias Sánchez, in Alhaurín de la Torre, and is located 20 minutes from Málaga-Costa del Sol airport and the beach.

Habitat already has 396 homes under construction in six developments across the province of Málaga and 1,621 homes under construction in 15 developments across the region of Andalucía.

Original story: Eje Prime

Translation: Carmel Drake