Thursday, January 28, 2021
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GPF Capital Acquires a Stake in Two of Inbest’s Socimis

The company has acquired a stake in a new Socimi and in Inbest IV, which owns the commercial premises in Madrid's Plaza de España, for 35 million euros, according to BME Growth.

Hotel Riu in Plaza de España (Madrid). Inbest is the owner of the building’s shopping arcade.

Specifically, the company AGPCH has acquired an 8.87% stake in the share capital of Socimi Inbest IV for 14 million euros. The Socimi owns the commercial area of Edificio España, amongst other assets. In parallel, the same company has also invested 21 million euros in a Socimi newly created by Inbest. All of this is reflected in a statement sent by Inbest to BME Growth.

In total, the company has disbursed 35 million euros and has acquired its stakes through purchases from other investors in the Socimi. According to data provided by GPF Capital, the operation has been structured through the disbursement of 35 million euros of new capital that, “together with the bank financing of the assets, gives GPF an exposure to the High Street Retail subsector of more than 70 million euros”.

Read the full article in Spanish.

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