Colonial Acquires Office Building In Madrid For €31M

15 July 2015 – Expansión

Colonial, the first Spanish real estate company to issue debt, has purchased an office building in Madrid, located on Calle Príncipe de Vergara, 112, for €45 million.

In fact, the group has spent €31 million on the acquisition of the building, and plans to invest a further €14 million on the renovation of the property.

Colonial explained that it plans to demolish the current building and build a nine-floor office building on the side, which will include the latest technologies and material innovations and the “most prestigious” environmental and sustainability certificates.

The new office building will have a total above ground surface area of 11,400 m2, spread over several floors.

Colonial plans to invest €300 million in total this year, after Villar Mir increased its shareholding in the company to 24.4%, to become the largest shareholder, ahead of the Qatar sovereign fund (13.1%), MoraBank and the Santo Domingo group (both own 7%) and three international investment funds (3% each).

The transaction comes after the company invested €40 million on the purchase of a building on Calle Estébanez Calderón in Madrid, a stone’s throw from the Paseo de la Castellana, which it will also demolish to build a new office building. It also acquired another office building in the centre of Paris for €68 million. That ‘Art Deco’ style property has a surface area of 6,000 m2 and is located in the business district of the French capital.

Original story: Expansión

Translation: Carmel Drake

Villar Mir Continues To Strengthen Its Stake In Colonial

28 April 2015 – El Mundo

Villar Mir consolidates its 24.4% stake through the acquisition of 1.1 million shares.

Obtains a block of shares at a price that ranged between €0.603 and €0.607.

Grupo Villar Mir has purchased a block of 1.1 million shares in Colonial, representing 0.03% of the real estate company’s share capital, for €665,700.

The corporation controlled and chaired by Juan Miguel Villar Mir has hereby consolidated its 24.4% stake and (position as) the company’s primary shareholder.

Grupo Villar Mir has acquired the new block of shares in Colonial for a price of between €0.603 and €0.607 per share, in transactions closed on the stock exchange on 20 April and 21 April, according to the register of the Spanish National Securities Market Commission (CNMV).

The group is strengthening its stake in Colonial at a time when the asset company is entering a new phase of investment, in which it plans to allocate funds of €300 million in 2015.

The other key shareholders of Colonial are the Qatar Sovereign Wealth Fund, which is the second largest shareholder with a 13.1% stake; MoraBank and the Santo Domingo group, which hold 7% each; plus three international investment funds that own 3% each.

Original story: El Mundo

Translation: Carmel Drake

Villar Mir Buys 0.12% More Of Colonial’s Capital

23 April 2015 – Expansión

Grupo Mir (owned by Juan Miguel Villar Mir, pictured above) has purchased shares in the real estate company Colonial, representing 0.12% of its share capital, for €2.46 million, whereby taking its total stake to 24.4%. Colonial’s other major shareholder is the Qatar Sovereign Wealth Fund, which holds 13.1%.

Original story: Expansión

Translation: Carmel Drake