Lone Star has launched the orderly sale of the assets still held by Coral Homes, the company set up eight years ago alongside CaixaBank to manage the portfolio of property assets inherited from the financial crisis, as reported by El Confidencial.
The transaction marks the conclusion of a strategy launched in 2017, when the fund acquired a portfolio of problematic real estate assets from CaixaBank and set up a joint platform with the bank to manage and gradually divest these assets. That portfolio started at around €7 billion gross, although sales made since then, in many cases at significant discounts, have substantially reduced its size.
Today, the remaining portfolio stands at around €1 billion, a figure that has prompted Lone Star to speed up the exit process. To this end, it has engaged the investment banking firm Alantra, which will be responsible for organising the sale of the assets still under the Coral Homes umbrella.
The move marks a shift in strategy: from the long-term management of property assets to a more direct liquidation. According to market sources, the process is already at an advanced stage, with preliminary offers having been received from several international investors.
