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Tander Finalises Acquisition of Store at Goya 15 for €38.5 Million

The deal was announced in June but had to be ratified by the shareholders’ meeting, at which point the transaction was successfully completed.

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The socimi Tander Inversiones, owned by the Canadian fund Premiere Alliance, has finalised its acquisition of Goya 15. The store, on the corner of Calle Serrano, cost the listed company 38.5 million euros.

Tander financed the acquisition through an intra-group loan and another one from Banco Santander. Shareholders contributed 7.45 million euros, while the financial institution lent the remainder, 24.1 million euros. Santander’s loan has a duration of seven years, at an interest rate of 1.60%.

Its previous acquisition was a store in Palma de Mallorca for 4.6 million euros. Rented to the jeweller Tous, Tander financed the purchase through a capital increase of €43 million.

Tander went public in 2018. It has a portfolio of stores in Barcelona, Bilbao, San Sebastian, Santander, Porto, Lisbon and Rome. Its tenants include Banco Sabadell, FC Barcelona and Inditex. This portfolio is valued at €170 million, of which €100 million correspond to assets in Spain. The second most important country is Portugal, with a valuation of close to €61 million, followed by Italy with 8.8 million euros.

Read the full article in Spanish

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