Tag: Tauro Real Estate

Tauro Real Estate Buys Torre Ámbar in Madrid

3 July 2018 – Eje Prime

The new Tauro Real Estate is rearing its head in the Spanish residential market. The fund, which is now under the mandate of Globe Invest, the Israeli company that acquired the firm in April by paying €180 million to its former shareholders, has recently purchased Torre Ámbar in the centre of Madrid.

In the middle of May, Globe Invest, owned by the multi-millionaire Teddy Sagi, acquired the rights to purchase the residential block from the Inveriplus group. The tower comprises 64 prime homes very close to Paseo de la Castellana, according to confirmation from sources involved in the operation. The amount of the transaction has not been revealed. The vendor in this operation, Inveriplus, is a group dedicated to investment in real estate assets for their subsequent management and value generation. The company, which is headquartered in Madrid, is led by Óscar Bellette.

The asset has been acquired after the clean-up that Inveriplus conducted of the tower. It, in turn, had purchased the homes during the crisis from several merchants of the Proinlasa real estate group. For the last few years, the manager has succeeded in leasing the block in its entirety.

Torre Ámbar is one of the skyscrapers that comprises the residential area of Isla Chamartín, located to the north of Madrid. The building, whose first homes were handed over in 2009, was designed for sale, but the change in economic cycle forced a change in the objectives and it was put up for rent in 2014.

The sale was signed “at market price”, according to sources close to the operation speaking to Eje Prime. “The returns that the property could generate are of much greater interest than the purchase opportunity”, say the same sources.

Torre Ámbar comprises luxury one and two bedroom homes, as well as several studios. The urbanisation is private and has security gates, a swimming pool, garages and storerooms, a padel court and private green spaces, according to Proinlasa’s corporate website.

The owner of the property has real estate assets for sale and rent in Madrid, Valladolid, Palma and Córdoba. In its property development plan, the group says that, in addition to residential land, it is also backing the tertiary and industrial market.

The owner of Camden Market’s commitment to Spain

Teddy Sagi is an Israeli multimillionaire and owner of the renowned Camden Market in London. The businessman, through Tauro Real Estate, has acquired 600 homes spread between Madrid and Barcelona.

Tauro has fattened up its portfolio in less than four years with the purchase of assets, primarily from banks, involving the investment of up to €160 million. In Madrid, it owns 350 homes and in Barcelona, it has another 250 properties. In the Catalan capital, it owns tourist apartments, which comprise 30% of the assets that Tauro owns in the city (…).

Original story: Eje Prime (by J. Izquierdo & P. Riaño)

Translation: Carmel Drake

Teleno Real Estate Buys a Residential Building in Madrid for €16M

12 June 2018 – Idealista

The real estate consultancy firm BNP Paribas Real Estate has advised on the sale of a residential building in the north of Madrid, worth €16 million. The property comprises 59 homes, 42 storerooms and 96 parking spaces. Teleno Real Estate is the company that has acquired the asset; it has been advised by Jesús Segado and Javier Escudero, partners of Smart Invest.

The asset is located in the north of Madrid. The firm that has undertaken the purchase, the former Tauro Real Estate, invests in the purchase of real estate assets and is led by José María Xercavins. Tauro Real Estate was acquired in April by the Israeli millionaire, Teddy Sagi (pictured above), who paid €180 million for the company. Currently, it owns 600 flats in Madrid and Barcelona.

David Forteza del Rey, Head of Residential Investment at BNP Paribas Real Estate, explains that “these types of operations confirm the continued dynamism of the residential market, which is still offering attractive returns for investors in a low-interest rate environment”.

Last month, the consultancy firm also advised the investment fund Eurostone on the purchase of two real estate assets, in that case in the upper area of Barcelona, on Calle Tuset and Calle Aribau. Those properties have surface areas of 4,786 m2 and 7,461 m2, respectively. The first is a residential asset with a commercial premise on the ground floor. The property on Calle Aribau contains homes for residential use and tourist rental (…).

Original story: Idealista 

Translation: Carmel Drake

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

Tauro Real Estate Purchases 200 Flats In Madrid

25 April 2017 – Expansión

The real estate fund Tauro Real Estate now has more than 700 homes in its portfolio, located in Madrid and Barcelona, after it completed the acquisition of a building containing 200 apartments in San Sebastián de Los Reyes (Madrid). The complex, which is leased in its entirety, is located at number 11, Avenida Juncal and has a car park with 200 parking spaces, as well as a sports area with swimming pools and tennis and padel courts.

Tauro’s objective is to close the fund when its real estate portfolio contains 1,000 rental homes, including, in the case of Barcelona, tourist apartments. The cumulative investment will amount to between €200 million and €250 million.

Tauro’s investors include the Drago family, owner of the Italian publishing group De Agostini, and the firm is led by José María Xercavins (pictured above).

Original story: Expansión (by J. O.)

Translation: Carmel Drake

Tauro Buys Building In Madrid For €9.2M

21 July 2016 – Expansión

The real estate investment fund Tauro Real Estate, managed by Josep Maria Xercavins, has purchased a building in Madrid for €9.2 million. The property is located on Calle Ciudad de Barcelona, 89 and was built recently.

The building comprises 31 homes and 50 parking spaces, which will be put up for rent. Tauro Real Estate already owns eleven buildings in Barcelona and three in Madrid, according to data from the Commercial Registry. Its portfolio currently contains 300 homes and the fund is expected to close once it has 500 homes. Tauro’s aim is to acquire properties that generate good returns (from rental income) and capital gains upon sale.

Original story: Expansión

Translation: Carmel Drake