Specifically, the fund has taken half of Torre Caleido, valued at around 92 million euros, after executing a guarantee on a loan that the real estate subsidiary of the Villar Mir family had outstanding with Arbor Investments, a company of Incus Capital.
The transfer of the stake, held until now by Inmobiliaria Espacio (Priesa), is part of the refinancing agreement that the Villar Mir group had agreed to with its creditor after being unable to meet its obligations last September.
According to the company’s accounts, Priesa had borrowed 46 million euros (of which it had already drawn down €45.4 million by the end of 2018) granted by Arbor Investments to build Torre Caleido. Repayment of the loan was set for April 2021 and later extended to September.
