13 May 2013 – Mis Naves
The Socimi Merlin Properties has purchased a logistics centre located in the R-2 industrial estate in Meco from the real estate asset management company Kefren Capital for €22.2 million. The property, built on a plot of land measuring 50,727 m2, occupies a surface area of 35,285m2, and contains four modules, 31 loading bays and 4 HGV doors. The Dachser Group leases the entire platform.
The legal advisors to the transaction were Broseta on the sell-side and Garrigues on the buy-side.
KCRE acquired this asset in August 2014 following the bankruptcy of the company Coperfil and it financed the transaction through Nordic investors, which acquired capital, as well as by securing a loan for the project from CaixaBank.
Original story: Mis Naves
Translation: Carmel Drake
7 May 2015 – Sankaty Press Release
Sankaty Advisors, LLC, the independently managed credit affiliate of Bain Capital, announced yesterday that it has acquired a portfolio of secured loans from BFA-Bankia Group, through a controlled affiliate.
Aura REE provided real estate valuation advice on the transaction; J&A Garrigues acted as legal advisor; and Copernicus, a Spanish financial services company, assisted Sankaty with the transaction due diligence and will also act as the servicer for the portfolio post-acquisition.
The portfolio—which has a par value of €560 million—is made up of defaulted bilateral and syndicated Spanish real estate developer and SME loans, secured primarily on various real estate collateral. This is Sankaty’s second loan portfolio transaction with Bankia in the last 12 months, which further develops its experience and understanding of the Spanish market.
“We are excited to be making this investment in Spain, our second acquisition in the market in the last 6 months. This transaction further enhances our track record of investing in complex and idiosyncratic portfolios across Europe, where we have the ability to leverage our experience while remaining flexible to maximize value for our investors,” said Alon Avner, a Managing Director and Head of Sankaty’s European business, which has bought €2.7 billion in loan portfolios from European banks over the last three years.
Original story: Sankaty Press Release
Edited by: Carmel Drake