VBARE Iberian Properties expands portfolio.

VBARE has closed the purchase of an 11-flat building and a retail unit located in Madrid’s Don Quijote street . The estimated total investment amounts to €1.5M (including 368 thousand euros of transaction costs and refurbishment costs).

VBARE specialises in residential properties for rent. The fund’s goal is to access capital markets in order to raise funds with a view to facilitating financing for new investment projects and continuing their growth strategy. The board of directors is chaired by Fernando Acuña, who holds a degree in Economics and Business Science from the Complutense University in Madrid and a BA from the Anglia Polytechnic University of Cambridge. Fernando began his professional career at McKinsey & Co., working at the firm’s offices in Madrid and New York and subsequently served as the CEO of Deutsche Bank Credit as the Head of Loans in Spain.

As at the 24th of July, the shareholders with a direct or indirect share of over 5% are the following:

(*) Value Basehas a direct participation of 176,250 shares (7.38%) and indirect participation through Value Base Hedge Fund Ltd. (100% ownership) of 117,500 shares (4.92%) and indirect participation through Value Base Underwriting and Securities Distribution Ltd. (90.1% ownership) of 225 shares (0.01%).

(**) Ido Nouberger has a direct participation of 122,264 shares (5.12%) and indirect participation through Value Base Ltd. (owned at 20.075%) as reported above.