Persán’s Owners Acquire 40% of Río 55 Business Park in Madrid for €70M

25 June 2018 – Eje Prime

A new business saga is investing in the Spanish real estate sector. The Moya Yoldi family, owners of the detergent manufacturer Persán, have invested €70 million in the purchase of 40% of the Río 55 Business Park in Madrid. For this operation, the Andalucían family has joined forces with Inmobiliaria del Sur (Insur), the office property developer, with which it has also signed a second agreement involving a prime residential project in Marbella (Málaga).

The owners of Persán, an integrated supplier of the supermarket giant Mercadona, has increased its commitment to the real estate sector through Concha Yoldi, the co-owner of the company together with her husband, José Moya, and the couple’s children: Juan, José and Francisco Javier, according to El Confidencial.

The saga has acquired a significant stake in Río 55, which already signed the sale of one of its two buildings to the fund manager AEW Europe in March. Insur forecasts that it will hand over the keys to the first tenants of the business complex next year. The two properties will span a surface area of 14,000 m2 each.

Likewise, the Andalucían family is also going to invest in its own region in partnership with Insur. Gestafin Global Investment, another of the real estate companies owned by the Moya Yoldi family, has acquired 40% of the luxury development that the real estate firm is constructing in Marbella. In total, 53 luxury apartments will comprise this project in the sought-after Costa del Sol, whose first phase has been underway since 2017. A third plan in the Sevilla residential market, where Insur is building 238 homes, completes the alliances that the family office has with the group.

A Socimi with the owners of Silestone and the founders of Goldcar

The presence of the owners of Persán in the property sector does not end with their individual investments. The Andalucían saga also shares ownership of a Socimi with other entrepreneurial families such as the Cosentinos, owners of Silestone, and the brothers Juan and Pedro Alcaraz, founders of the vehicle renting company Goldcar, now part of the giant Europcar.

Moreover, through Trajano Iberia, of which José Moya is president, the family owners a share of the Madrilenian Alcalá Magna shopping centre, for which the company paid €100 million last year, and a second in Portugal; an office building in the Spanish capital, in the Manoteras area, to be precise; a mixed-used property, for offices and shops in Bilbao; and a logistics asset in Zaragoza (…).

Original story: Eje Prime 

Translation: Carmel Drake

Grupo Zar to Build a Shopping Centre and Luxury Villas in Valencia

15 June 2018

The real estate company will develop a new prime project in Torre en Conill, a luxury home development located in Bétera (Valencia). The venture will consist of luxury homes and a 500-square-meter commercial centre.

Luxury is reinforcing its presence in Valencia’s real estate market. The Grupo Zar will develop prime housing and a shopping centre in the luxury development Torre en Conill, located in Bétera (Valencia).

The shopping centre, which will be called Island, will have an area of ​​500 square meters and will provide “complementary services to the residential area, which today has more than 1,100 homes”, the project’s developer, Sergio Zaragoza, highlighted.

The company in Zaragoza wants to take advantage of “the potential population growth in the development,” the businessman explained, estimating that the residential complex will add another 2,700 new homes.

Seven of the new homes will have Zar’s stamp, which is already selling villas from its latest project. These homes will have five bedrooms, four bathrooms, a swimming pool and private garage spread over 350 square meters of constructed area. The prices of the houses start at 546,000 euros without VAT.

Currently, Grupo Zar has another ongoing development consisting of six single-family homes. They are also located in Torre en Conill. With these less expensive homes, with prices starting from 337,000 euros, the developer wants to take advantage of the luxury residential market’s boom in Valencia.

Proof of the boom lies in the interest of yet another developer in Torre en Conill. In addition to Zar, Metrovacesa is building houses in the same development. The property developer, which is listed on Madrid’s stock market, is building 19 chalets for its Villas de la Calderona development.

Original Story: EjePrime

Translation: Richard Turner

The Owners of La Zagaleta Will Create a Luxury Development for Millennials

28 April 2017

The British firm, which owns the most luxurious resort in Europe, is working on a development in Cádiz, with homes which will cost between three and five million euros, aimed at the younger generations of extremely wealthy families.

Located in the municipality of Castellar in Cádiz, next to the exclusive developments of Sotogrande and Valderrama, the last available estate in the area is awaiting the approval of the local town council to become the site of a modern and luxurious residential resort, which will include a top-level golf course and a five-star hotel. The estate is called Valderrama II, a 220-hectare farm that was acquired last year by the company La Zagaleta Limited.

The firm, based in London and owner of another luxurious residential development called La Zagaleta, bought the Valderrama group, the company that owns the land, as well as the golf course of the same name, considered the best in Spain and one of the best in the world, in a deal valued at 40 million. “The agreement was closed in December 2015. There are a number of possibilities but we intend to convert Zagaleta Limited into a holding that integrates several luxury brands, and that is why we choose only projects that have established brands that are well-known in the real estate market. Here we have a unique opportunity to develop the land from scratch. The land has a total of 220 hectares, where we can build 200 homes, a golf course and a hotel,” Ignacio Pérez, Business Development Director of La Zagaleta, explained.

The owners of La Zagaleta’s new project, considered the most luxurious development in Europe, and located in the Malaga municipality of Benahavís, will also be for millionaires, but with some differences. “In La Zagaleta there are two lines: one with houses of between five and eight million euros and another one starting with eleven, which is the one we are promoting.” Valderrama 2 is another concept, with houses of between three and five million euros, that the buyer can easily finance,” Ignacio Pérez stated.

Also, the new venture will have a maximum of 200 homes, each with between 2,000 and 3,000 square meters of land, which will be aimed at a different public than the norm in La Zagaleta. “In this area, we could build townhouses, but that is not our thing. We will make an integrated resort, with private streets, similar to the luxury developments that exist in the United States, and where the nature of the surroundings mitigates prevailing winds found in the area,” the Director of Business Development pointed out. “The idea is to make homes without fences, like in Los Angeles or Florida, where you can see without being seen, and that incorporate the current demands of millennials,” he adds.

The objective of La Zagaleta is to pre-sell the homes so that each client can customise it during its construction. “We believe that buyers of these homes will be an international mix: people who like to play golf but we will also go after clients in Tarifa, which is very close to Valderrama 2. And don’t forget that we are 20 minutes from Gibraltar airport,” Ignacio Pérez stressed.

La Zagaleta has given itself three years to begin construction.” We will spend 2017 solving some critical steps and setting a timetable, but we want to have the development under construction by 2020 and then complete it rapidly.”

In total, the group plans to invest 200 million of its funds in developing the development over ten years. The total investment could reach over €400 million. “We will be building the homes, for example, at a rate of about 20 a year. The logical thing would be to finance them in the long term so that the buyer can easily take on the outstanding loan and buy the property with a smaller downpayment.”

Original Story: Expansión – Rocío Ruiz

Translation: Richard Turner