BMB Launches a Socimi to Invest €100M in Industrial Warehouses

16 October 2018 – Eje Prime

BMB Investment Management is betting on the tertiary sector. The fund manager is finalising the launch of a new Socimi to invest €100 million in the purchase of industrial warehouses.

After entering the residential market with two Socimis (Optimum Re Spain and Optimum III Value-Added Residential), the company led and chaired by Josep Borrell is now looking for higher returns with its latest firm, Optimum Rentals Socimi. This new investment vehicle will focus on the acquisition of assets that offer returns of between 6.5% and 10%, according to reports from Expansión.

The intention of BMB is that 80% of the budget will be allocated to the purchase of industrial warehouses, leased to solvent tenants and located in the industrial parks of Madrid and Barcelona.

Similarly, although Borrell rules out investing in logistics, he does not shy away from the idea that the fund may also take advantage of an opportunity or two in the residential sector or even in the hotel or retail markets.

Optimum Rentals Socimi is starting life with an initial budget of €100 million, of which €50 million will proceed from own funds and the remainder, from bank financing. Sources at the manager confirm that the plan is to maintain the fund in an independent way so that it will live off of its own income. Investors in BMB’s third Socimi are expected to include both institutional and real estate players, and the percentage of international capital is expected to be high.

Original story: Eje Prime

Translation: Carmel Drake

BMB Joins Forces With BlueMountain To Create New Socimi

2 March 2017 – Expansión

The hedge fund is the largest shareholder in Optimum III Value-Added Residential, which will invest up to €100 million buying residential buildings in Barcelona and Madrid.

BMB Investment Management, the real estate investment vehicle manager has launched a new project. The Barcelona-based company led by Josep Borrell Daniel has signed an alliance with the US investment firm BlueMountain Capital Management to launch the listed real estate investment company (Socimi) Optimum III Value-Added Residential, which could debut on the Alternative Investment Market (MAB) in April.

Original story: Expansión (by J. Orihuel)

Translation: Carmel Drake