Roebuck Acquires Logistics Platform in Zaragoza for €78 Million

8 November 2019 – The property management firm Roebuck has acquired a logistics facility in Zaragoza, previously owned by the Pikolin group, for 78 million euros. The latter firm, a Spanish mattress manufacturer, will continue leasing the site, in a sale and leaseback operation. The facility, located in the Plataforma Logística de Zaragoza, has a useful area of ​​92,723 m2 on a 225,000-m2 plot of land.

The platform includes 11 production facilities (including a polyurethane foam factory), two storage warehouses, 2,500 m2 of workshops and 10,000m2 of offices. The facility is the largest and most modern in Europe for the production of mattresses.

Original Story: Idealista – Custodio Pareja

Adaptation/Translation: Richard D. K. Turner

Saint Croix Socimi To Debut On The MARF

1 October 2015 – Expansión

The Socimi Sainx Croix, owned by the Colomer family, registered its first fixed income program yesterday, for up to €80 million on the Alternative Fixed Income Market (‘Mercado Alternativo de Renta Fija’ or MARF), a financing option launched by the Government in 2013 to facilitate SMEs’ access to capital markets. In this way, Saint Croix became the first Socimi to turn to this market in search of financing.

According to a statement by the BME yesterday, Saint Croix plans to allocate the funds that it will raise through this bond issue to the acquisition of new assets and the maintenance of existing assets in its current portfolio.

Renta 4 coordinated the management and structuring of the plan and will act as the underwriter for the bond issues that are carried out. Axesor Ratings has assigned the issuer a BBB rating with a stable outlook, in other words, it is classified it as investment grade. Ramón y Cajal Abogados was engaged to provide legal advice for the design and registration of the program.

Saint Croix Holding, which relocated its headquarters to Luxembourg from Spain in 2014, owns 150,000 m2 of rentable space, with a total value of €284 million as at 30 June 2015. Its assets include several hotels, located in Huelva and Madrid, as well as the headquarters of CLH. The Socimi’s owners, the Colomer family, also own the real estate company Pryconsa.

The Socimi has included an explicit warning to investors in the bond issue brochure, about the political risks in Spain, making a clear reference to Cataluña (see page 32).

MARF

This  is a new debut for the MARF. In total, according to data from the BME, thirteen companies have decided to issue bonds through this market. Copasa, Pikolin, Tecnocom and Barceló are a few of the companies that have already successfully launched operations on this market.

Original story: Expansión (by D.B., M.S. and R.R.)

Translation: Carmel Drake