Tag: Panrico

An Israeli Investor Acquires Tauro Real Estate for €180M

26 April 2018 – Eje Prime

The Spanish real estate sector is crossing borders and, in this vein, the latest investment in a domestic player comes from Israel. The multi-millionaire Teddy Sagi (pictured below), owner of Camden Market in London, has purchased the fund Tauro Real Estate, which owns 600 homes in Madrid and Barcelona. The operation, which has been closed for around €180 million, has been carried out through a British company owned by Sagi, Globe Invest.

Tauro’s shareholders have obtained gains of 100% from the sale of the company. Led by José María Xercavins, the Spanish fund had been controlled until now by businessmen from a number of sectors including publishing, with Roberto and Marco Drago, from Grupo De Agostini; and José Creuheras, a partner of the Italians as President of Planeta; and the food sector, represented by Albert Costafreda, formerly the owner of Panrico, and Silvio Elías, one of the former owners of Caprabo supermarkets, according to Expansión.

Tauro has grown its portfolio in less than four years through the purchase of assets, primarily from banks, in which it has invested up to €160 million. It owns 350 homes in Madrid and the remaining 250 properties are located in Barcelona. In the Catalan capital, its tourist apartments stand out since they account for 30% of the flats that Tauro owns in that city.

Sources at the Spanish company say that the sale was not sought, but rather is the consequence of an offer received, which changed the long-term plans that the owners had for the company. For their part, Tauro’s shareholders are already looking at the market with the intention of launching a new real estate investment vehicle.

Original story: Eje Prime

Translation: Carmel Drake

Nuñez I Navarro Restores Former Panrico Factory In Barcelona

25 September 2017 – Mis Naves

The former Panrico factory, the company’s distribution centre for the whole of Barcelona, is coming back to life. Núñez I Navarro has recovered the building and has restored it for industrial use.

The building is distributed over five floors: two are allocated for parking, two for industrial use and one floor for offices and a terrace. To cover logistics needs, it has two hoists, loading docks, two lifts, storerooms and 136 parking spaces. Moreover, it also offers open plan spaces with several bathrooms and changing rooms on each floor, as well as fire detectors, concrete floors and a stone floor on the second level.

The property is located in Calle Binéfar in Barcelona, in the Sant Martí district of the city, and is equipped with all of the facilities of a large conurbation: restaurants, shops, supermarkets, sports facilities and schools, as well as excellent transport connections with the rest of the city by metro (La Pau, L2 and L4) and bus (Lines 33, 36,143, B23 and H10). Moreover, the site is also accessible from the Ronda Litoral (exit 24) and is just two minutes from Rambla Prim.

Altogether, the property has a total surface area of 14,857 m2, although its distribution means that the property could be divided into two completely independent and identical buildings. As such, in the event that a smaller surface area was required, two spaces measuring around 7,500 m2 each could be created. For the Marketing Director at Núñez I Navarro, Daniel Zafra, the building “represents an excellent opportunity for companies with logistics requirements that typically find themselves outside of the urban nucleus and which can now enjoy the benefits of a city such as Barcelona”.

Original story: Mis Naves

Translation: Carmel Drake