Thursday, July 9, 2020
Home Companies Chenavari Put...

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.

B-Exclusives

House Prices in Madrid Rise by More Than 45% in Five Years

The average home cost 295,927 euros in the Spanish capital at the end of March, compared to 165,280 euros on average in Spain.

How Much Does it Cost to Rent a Home in Your Area According to the Government’s Statistics?

The map prepared by Brains RE using data from the Ministry of Development's index reveals the rental prices in each municipality in Spain; and they vary quite a lot compared to other indicators.

Where are the Most Expensive Homes in Spain?

25 Spanish towns registered house sales costing more than 3,300 euros per square metre during the first quarter, including eight municipalities in the Balearic Islands.

House Sales Reach their Highest Prices in 8 Years

Homes sold during the first quarter of 2020 registered the highest prices seen in the last eight years, with an average of 1,747 euros per square metre; four autonomous regions accounted for 70% of the total sales volume.

Latest news

Pontegadea Earns €1.8 Billion and Increases its Real Estate Portfolio to More Than €15 Billion

Amancio Ortega's holding company closed 2019 with revenues of €2.3 billion, of which €0.6 billion came from its real estate activity, with buildings located around the world.

Amancio Ortega Reorganises his Property Portfolio and Carves Out the British Assets into a Separate Company

The owner of Inditex is unifying his real estate portfolio in Spain, separating out his assets in the United Kingdom into a new company and reordering his financial investments.

Patrizia Raises More Than €1 Billion for its Latest Fund which will Invest in Logistics Assets in Spain

The manager has announced the closure of its flagship fund TransEuropean VII LP ("TEP VII"), which has reached its maximum capital limit of 750 million euros and which plans to invest more than 1 billion euros over 3 years.

Allegra Reinforces its Expansion with the Appointment of José Joaquín Puig de la Bellacasa

In his new position, Puig de la Bellacasa is going to strengthen the domestic and international investment strategy of the group that specialises in the investment and development of real estate assets.