8 April 2019 – Eje Prime
The Spanish fund manager CorpFin has completed a capital increase amounting to more than €10 million in Inbest Prime III Inmuebles and Inbest Prime I Inmuebles, two of its four vehicles specialising in retail.
Specifically, Inbest Prime III Inmuebles increased its capital by €2.33 million, taking the total subscribed amount to €12 million. Meanwhile, Inbest Prime I Inmuebles increased its capital by €8.22 million, resulting in a total subscribed amount of €25 million.
This latest injection of funding follows more than ten capital increases that the firm led by Ana Granado has carried out in recent months.
Corpfin launched Inbest Real Estate in April 2018 with the aim of investing in high street buildings and converting them into flagship stores. Inbest channels its investments through four vehicles, Inbest Prime I, II, III and IV, which will debut on the Alternative Investment Market (MAB) in September 2019.
The funds’ largest operation to date was its purchase of the retail premises in Edificio España last year, on which it spent €160 million.
Original story: Eje Prime (by I. P. G.)
Translation/Summary: Carmel Drake