Photo of Madrid’s nº25 Ribera de Curtidores which is owned by Persépolis.
After listing on the Madrid Alternative Stock Exchange last Monday the 12th of August, Persépolis has paid €4.4 million for an undisclosed 3,500m² five storey vacant building in Madrid. The rest of the REIT’s portfolio has a GLA of 18,251m² and is comprised of 6 assets in Madrid, 2 in Málaga, 2 in Córdoba and 1 in Granada.
The listed property fund’s objective is to focus on investment, management and development of residential properties and benefit from growing rent levels.
The fund is backed by Wedgewood Investment, which has a 53.49% stake. The Illinois-based investment bank is headed by founder and CEO Rudy Trebels. Founded in 2009, it is one of the largest commercial real estate investment firms in the Midwest of the US, with a focus on the funding and development of senior living communities. Under Rudy’s leadership, the team has completed more than $1 billion in transactions serving more than 100 lenders and investors.
With a 5.35% stake, Mitra Ghamsari is the president of the Spanish REIT and brings a wealth of experience working in trading and hedge fund management at firms like Citigroup, Bridgewater Associates and Autonomy Capital.
Also on the board with a 1.08% stake is Ramine Rouhani who was head of capital markets for the US at Natixis, Yadh Yaich who was head of non-core credit trading at UBS and former JP Morgan Managing Director Benjamin Smith who owns a 32.09% stake.
The REIT, which has the ticker «YPER», is subject to the special regime of Listed Public Investment Companies in the Real Estate Market and regulated by Law 11/2009, of October 26. It currently trades at €1.7 per share and has a market capitalisation of €39.6million.