Nyesa Valores Acquires 202 Flats from Cajamar for €24.96 million

6 January 2020 The Nyesa Group has acquired 202 flats from Grupo Cajamar for a total of 24.96 million euros. 65% of the properties, which total more than 22,000 square meters, are managed on a rental basis while the rest are for sale.

In less than nine months, Nyesa has acquired two major residential property portfolios. Of those, the firm acquired 176 homes from Liberbank and a further 202 from Grupo Cajamar. The total investment surpassed 30 million euros.

El Grupo Nyesa ha adquirido 202 pisos al Grupo Cajamar por un total de 24,96 millones de euros. El 65% de las propiedades, que suman más de 22,000 metros cuadrados, se administran en régimen de alquiler, mientras que el resto está a la venta.

En menos de nueve meses, Nyesa ha adquirido dos importantes carteras de propiedades residenciales. De ellos, la firma adquirió 176 casas de Liberbank y otras 202 del Grupo Cajamar. La inversión total superó los 30 millones de euros.

Original Story: ABC de Sevilla – M. J. Pereira

Translation/Summary: Richard D. Turner

Nyesa Buys 176 Homes from Liberbank for €5.8M

29 March 2019 – Eje Prime

Nyesa has purchased a batch of 176 homes from Liberbank for €5.8 million. Together the properties, which are all finished, span a combined surface area of more than 20,000 m2.

The company plans to sell some of the homes and rent out the others. According to the real estate company, the appraisal value of the property portfolio amounts to €13.3 million.

Original story: Eje Prime

Translation/Summary: Carmel Drake

Nyesa Raises Capital with New Investors & an Office Portfolio in Cádiz worth €22M

30 October 2018 – Eje Prime

Nyesa is continuing with its plan to capture investors and increase its share capital and portfolio. The Spanish real estate company has agreed to a capital increase, which will allow the company Olaf y Rubí to become one of its shareholders. Following the operation, Nyesa’s new shareholder will introduce into the company’s portfolio 95 offices in Las Torres De Hércules, in Cádiz, worth €22 million, according to a statement filed by the company with Spain’s National Securities and Markets Commission (CNMV).

The investment, which will see Olaf y Rubí acquire a 21% stake in the real estate company, is conditional upon Nyesa’s largest shareholders (the US group Gaber, the Russian investors Eldarov, Ivanov, Samodurov and the company Fanumceo) considering that the assets in question will pass an urban planning, legal, tax and financial review.

Olaf y Rubí’s portfolio is associated with a mortgage amounting to almost €4.8 million. The new shareholder of the real estate company will subscribe to a line of credit to cover all of the costs relating to the mortgage (…).

Las Torres de Hércules, located in the Bay of Algeciras, were designed by the prestigious Spanish architect Rafael de la Hoz. Their tenants include companies such as the Danish logistics giant Maersk, which houses its headquarters for Southern Europe in the complex.

Standing 126 m above the city, the building was the tallest in Andalucía for several years, until the completion of Torre Sevilla, owned by CaixaBank. The property, which comprises two towers, spans a surface area of almost 20,000 m2 and was acquired by the Socimi Brickstock in September.

Original story: Eje Prime

Translation: Carmel Drake

Nyesa Buys 2 Residential Plots in Madrid for €3.6M

18 June 2018 – Eje Prime

The historical firm Nyesa is building homes again in Spain. The group has purchased two plots for residential use in Madrid for €3.6 million. Located in Vicálvaro, in the southeast of the Spanish capital, the plots have a buildable surface area of 5,700 m2, according to explanations provided by the company.

On this land, the real estate company is going to build private housing in its return to the domestic residential market. Having returned to the stock market in January, after six years of lethargy and emerging from creditors’ bankruptcy, Nyesa is going to build flats in El Cañaveral, “one of the largest urban developments in Spain, with a surface area of 5.3 million m2 and plans for 14,000 new homes to be built in the area over the coming years”, said the group.

This new project represents the relaunch of the group’s real estate development division, which has projects underway in Russia and Costa Rica. Listed on the stock market since 1989, its largest shareholders include Grupo Gaber, which controls 23.97% of the company; Grupo Eldarov, owner of 13.88%; Aqualdre, owner of 12.29%; and Fanumceo and Andrei Ivanov with smaller stakes of 8.97% and 5.57% of the company, respectively.

Recently, Nyesa divested some of its business in Costa Rica, with the sale of part of one of its projects in the Central American country to the local businessman Humberto Vargas for €21 million. The surface area transferred amounts to 140 hectares and is located within the La Roca resort, the largest in Costa Rica and one of the largest in all of Latin America.

Original story: Eje Prime

Translation: Carmel Drake

Nyesa Signs Non-Monetary Capital Increase of €17M with Brickstock

12 March 2018 – Eje Prime

Nyesa is continuing to win shareholders and develop its portfolio following its return to the stock market. The real estate firm has signed a contract with the Socimi Brickstock and its reference shareholders to undertake a non-monetary capital increase amounting to more than €17 million, as reported by the company to Spain’s National Securities and Exchange Commission (CNMV).

The agreement provides for the contribution of all of the shares of the Spanish companies Desarrollos Comerciales Plainet and Liber Iudiciorum. The first of the companies owns an asset portfolio comprising 2,453 m2 of retail premises and terraces in Fuerteventura, a retail premise in Barcelona, buildable land in Madrid for the construction of four homes and a buildable plot in Toledo for the construction of 52 homes. Meanwhile, Liber Iudiciorum owns two stores in the Gorbeia Multicines (Vitoria-Gasteiz) and Parque Rivas (Madrid) shopping centres, with a gross leasable area of 6,971 m2 and 4,797 m2, respectively.

For the time being, the capital increase operation is conditional upon Nyesa giving the green light to the technical, legal, tax, labour, financial and urban planning reviews of the two companies and to the shareholders of the companies accepting the valuation assigned to their shares.

The company is planning an issue rate of €0.06 per share for its capital increase, of which €0.015 corresponds to the nominal value and €0.045 to the issue premium.

Following this operation, Brickstock would hold a percentage of less than 13% of Nyesa’s share capital. Moreover, the Socimi has signed an agreement to not sell all of its shares in Nyesa for at least six months and to not sell half of its shares for at least one year.

Original story: Eje Prime

Translation: Carmel Drake

Nyesa’s Share Price Soars by 23% as it Announces Negotiations with Spanish Investor

9 March 2018 – Eje Prime

The stock market is rewarding Nyesa. The company has seen its share price soar by 23% due to negotiations with a Spanish investor. The company has informed Spain’s National Securities and Exchange Commission (CNMV) that it is negotiating an investment contract to not only carry out a non-monetary capital increase but also to incorporate new real estate assets into its portfolio in Spain.

“The investment contract establishes that the capital increase is conditional upon Nyesa considering that the technical, legal, tax, labour, financial and urban planning reviews of the assets to be contributed are undertaken in a completely satisfactory way”, say sources at the group. “Moreover, the deal will also be subject to the investor accepting the new valuation of the assets to be contributed, based on a preliminary valuation of more than €17 million”, they conclude.

The forecast issue rate for the capital increase is €0.060 per share (of which €0.015 corresponds to the nominal value and €0.045 to the issue premium). In this regard, it was also reported that as a consequence of the execution of the capital increase, the investor would reach a percentage stake of less than 13% in the share capital of Nyesa Valores Corporación.

The operation forms part of the process to search for partners, investors and real estate projects that help to define and support the strategy and strengthen the development of the company’s business. Specifically, with the execution of this capital increase, the company’s equity position would be strengthened through the incorporation of assets that generate recurrent income.

Original story: Eje Prime 

Translation: Carmel Drake