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Luxury Penthouses and an Infinity Pool – Sareb’s former Bosses Return to Property Development

The firm Ibero Capital Management, led by the former CEO and ex-Finance Director of Sareb, has acquired a development comprising 288 apartments to be completed in Valencia.

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Gran Canet Residence.

The firm Ibero Capital Management has carried out its first private equity real estate operation by acquiring a stalled residential project in Canet de Berenguer (Valencia), which will involve an investment of nearly €40 million. The purchase of the Gran Canet Residence will involve the participation of Oak Hill Advisors, as the contributor of the funds to Íbero CM, which will develop and manage the project.

With this operation, the management company created by Walter de Luna, former CEO of Sareb, and Luis Moreno, former Director of Financial Assets, after the departure of both from the ‘bad bank’, is positioning itself as one of the largest mixed managers in the Spanish market, with real estate investments in both debt and property.

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