Friday, November 27, 2020
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Chenavari Puts its Entire Property Portfolio in Spain Up For Sale

The British investment manager is looking for a buyer for its real estate portfolio in Spain, which is valued at 700 million euros.

One of Chenavari’s assets in Barcelona.

The London-based real estate investment manager Chenavari has decided to find a buyer for its portfolio of assets in Spain. According to El Confidencial, the firm created by former partners of BNP Paribas, Société Générale and Bear Stearns, already had plans to exit the Spanish market before the coronavirus and had engaged Alantra for that purpose.

Chenavari entered the Spanish market in 2014, by purchasing both assets and loans from Spanish banks. In this way, it participated in the purchase of two of the first portfolios that were sold by Bankia following its rescue by the state, specifically, Project Wind, amounting to €1.3 billion, which it acquired together with Oaktree, and another portfolio containing property developer loans worth €335 million.

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