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Värde accelerates search for buyer for its share in LaFinca
16 March 2020 | Vanessa Sousa

Värde Partners accelerated the pace for the search of a potential buyer for its 38% share in REIT La Finca Global Assets, at a time when there is a clear opportunity to obtain gains with this operation.


La Finca Business Park

Another motive that drove the management company to accelerate the process, was the fact that there is the possibility thast the trade market will be affected by the current Coronavirus (covid-19) pandemic, according to newspaper Expansión last Friday.

Several companies were already contacted by the American fund manager with Deloitte’s support. In February, newspaper El Confidencial reported that Drago Capital and Allianz had already submitted proposals. Newspaper Expansión has now added Starwood Capital to the race. The amounts for the potential deal were not disclosed, but it is known that its current Värde’s share was bought for 130 million euro at the end of 2016.

La Finca reached the end of last year with a 10 building portfolio located in Madrid which is currently estimated at 790.4 million euro, according to the note released at the Mercado Alternativo Bursátil – where the REIT has been listed since September 2019. The La Finca Business Park stands out within its portfolio as being the largest asset with 129 thousand sqm.

The American company is currently the REIT’s largest shareholder, followed by Yolanda García-Cereceda, with 23.1%, Susana García-Cerceda (18.7%), Eduardo García-Cercedo, (6.9%) and the company’s administrator (2.5%).