Värde Partners €360 million acquisition of San José Desarrollos Inmobiliarios

Overview:

• Värde Partners has acquired a €360 million controlling stake in the Spanish company San José Desarrollos Inmobiliarios.
• As a result, the privately owned investment manager has become the main shareholder of the company, on the basis of an equity value attributed to San José Desarrollos Inmobiliarios of €360 million.
• Banco Popular, seller of a 25% stake, has agreed to provide new financing to San José Desarrollos Inmobiliarios, which shall be devoted to further acquisition of real estate assets in Spain.
• The deal reinforced Värde as one of the main investors in the Spanish market, not only in real estate but also in other sectors such as banking.

Adam Majeed - Regional editor