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Merlin buys 34,4% of Silicius delivering 3 retail assets evaluated at €170M
04 March 2020 | Alicia Navarro

Merlin Properties will deliver three commercial assets estimated at more than 170 million euro in exchange for 34.4% of Silicius.

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The assets brought on by Merlin are the Fira shopping centre, in Reus (Tarragona), the Thader shopping centre in Murcia, and a commercial store located in the Nassica retail park in Getafe, Madrid.

The company also announced that REIT Silicius approved during a general meeting the incorporation of a new investor (family office) with three additional assets and around 20 million euro subject to its due diligence. With these incorporations, Silicius will have 41 assets with a gross value above 670 million euro.

These two strategic operations «allow for the company to diversify its assets as established by the business plan approved by the shareholders and which is based in acquiring buildings that are compatible with the company’s investment policy so as to keep building a portfolio made of assets from different typologies (hotels, offices, commercial, logistic and high street) with a stable income generation. The goal is to reach the dimension and structure required to be listed at the Continuous Market in the future», explained Silicius.

Additionally, the company also presented the «Growth Plan» for 2020, whose goal is to surpass the 1.000 million euro GAV before being listed.

With that in mind, Silicius is in advanced talks with several institutional funds which are able to offer it equity for an identified pipeline of around 300 million euro in assets that fit its investment policy.

The company is talking to several REITS and real estate companies that follow its philosophy and offer the asset typology required to negotiate their incorporation into Silicius.

«We are very happy for having concluded these new operations. Especially, having the largest Spanish REIT as a shareholder is a show of confidence and support for our growth and value creation strategy that has been followed at Silicius», highlighted the CEO, Juan Diaz de Bustamante.