29 June 2019
Linwork Properties, a newly incorporated socimi owned by the Renta Corporación, will focus its investments on the logistics and office sectors in Barcelona and Madrid. The new socimi plans to invest a total of between 600 million and 1 billion euros. The firm is seeking a return of between 10% and 11% on equity of €300-500 million.
Linwork mandated the U.S. investment bank Btig to find 20 shareholders, giving Renta, the socimis sole manager, greater control over the vehicle.
Renta is also due to create another socimi, as yet unnamed, to invest in the hospitality sector. Linwork will buy assets located mainly on Mediterranean Spain, the Balearic Islands, the Canary Islands, Madrid and Barcelona.
Original Story: EjePrime – M.C.P.