Thursday, August 13, 2020
Home Companies Patrizia Rais...

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.

Seat factory in Martorell.

The fund has a budget of more than 1 billion euros to invest over the next 3 years. In the last round of fundraising, “which was oversubscribed, another 116 million euros was obtained from new capital commitments,” explain sources from the company.

Backed by institutional investors from the UK, Europe, the US, the Middle East and Asia, the fund is the largest in the Patrizia TransEuropean series, exceeding TransEuropean Property LP VI (‘TEP VI’), which raised 430 million euros.

Read the full article in Spanish.

B-Exclusives

Madrid Backs Luxury Housing to Curb the “Suburb Effect” of the Pandemic

Moncloa and Chamberí overtake the neighbourhood of Salamanca as the districts with the most expensive new build homes in the capital, whilst in Moratalaz there are no new build homes on the market.

The Supreme Court Annuls the Requirement to Notify the Treasury about the Transfer of Housing for Tourist Use

The High Court has annulled the article that regulated the obligation to inform the Treasury about the transfer of housing for tourist use by applying a ruling from the European Court of Justice regarding Airbnb.

In Which Municipalities Do Britons in Spain Choose to Live?

More than 250,000 Britons reside in Spain, mainly in towns along the Mediterranean Coast where, in some cases, they outnumber the Spanish population.

A Dozen Property Developers Lead the Construction of Luxury New Homes on the Costa del Sol

High profile property developers, such as Aedas and ASG Homes, are sharing a leading role with local companies in an area where homes can cost more than one million euros.

Latest news

Germans Still Look Fondly Towards Spain’s Islands

Almost 112,000 Germans see Spain, and the islands in particular, as their favourite destination for holidays and having a second home. Of those, 25,700 have chosen to live in the Canary Islands.

The Catalan TC Advises that the Rental Law Infringes Upon the State

The Consell de Garanties Estatutàries (CGE), along with the Constitutional Court in regional matters, has advised that the rule under consideration by Parliament to freeze any increase in rents, would infringe up the powers of the State.

Footfall in Spain’s Shopping Centres Fell by 25.2% in July

The drop of 25.2% is, in reality, the smallest year-on-year drop since the beginning of the declaration of the state of alarm. Footfall had decreased by 89% in April and by 82.5% in May.

Major Real Estate Firms Post Their Worst Semester Since Stock Market Debuts

In the first half of the year, the companies Metrovacesa, Lar España, Colonial and Aedas Homes recorded total joint losses of 134.7 million euros due to the devaluation of their assets.