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Eastgate Property Takes 5.2% Stake in Lar España

Despite Eastgate’s investment, the U.S. pension fund Pimco Bravo (20%) still holds the largest stake.

Eastgate

Institutional investors are demonstrating interest in Lar España. The Eastgate Property fund, through the company Adamsville S.L., declared that it had built up a 5.204% stake in the socimi.

The acquisition makes it the company’s fourth-largest shareholder, behind the U.S. pension fund Pimco Bravo Fund (20.044%), the manager of the socimi Grupo Lar (10%), and the insurance company Santa Lucía (5.216%). Brandes Investment Partners (5%) and Blackrock (3.069%).

In total, Eastgate Property has 4,355,713 shares, which have a market value of 21.99 million euros. In the last few weeks, they have increased their position, which was previously around 3%.

Read the full article in Spanish

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