Photograph of Nadav Hamo, Co Founder and CEO of the Urban Group.
Two new American backed Spanish REITs completed their IPO last week: Urban View Development (YUVS) and Park Rose (YPARK) and are currently valued at €38.23 and €11.25 million respectively.
About Urban View Development
Urban View Development Spain SOCIMI S.A., has a portfolio of 454 properties of which 432 are income producing residential flats. The REIT also includes 16 parking spaces, 5 retail units and 1 storage unit. Over 90% of the rent is generated by assets located in the region of Catalonia although the listed fund includes properties in the regions of Valencia, Andalusia, Madrid and the Balearics.
The CEO is Nadav Hamo, the Co-Founder and CEO of the Urban View Group a developer of boutique residential properties which is based in Williamsburg, Brooklyn. Urban View has completed over 40 residential projects in Brooklyn during the last 10 years and the team includes Robert Michaeli, COO and Guy Ayalon, Executive Officer.
About Park Rose Iberoamericana
Listed at €1.15 per share, Inmobiliaria Park Rose Iberoamericana SOCIMI, S.A., the REIT was up 1.7% at market close on Friday the 25th trading at €1.17 per share. The vehicle has been launched by Chilean businessman Luis Akel Valech owner of the Parkrose Group, a multinational merchandising organization dedicated to importing textiles from Asia to the Americas since 1999.
The REIT has a portfolio of 19 assets in Florida, Madrid, Talavera de la Reina and Barcelona including the following:
|Asset||Address||City||Acquisition Price (€)||Acquisition Year|
|3 Residential units||Calle Diputación||Barcelona||1,125,000||2013|
|Retail Unit||Calle Escorial, 30-32||Barcelona||500,000||2013|
|Retail Unit||Calle Carrers i Candi, 3-7||Barcelona||685,000||2014|
|Retail Unit||Calle Sant Eusebi, 25||Barcelona||700,000||2014|
|Retail Unit||Calle Gran Vía Corts Catalanes, 923||Barcelona||255,000||2014|
|Retail Unit||Avenida de Icaria, 157||Barcelona||135,000||2014|
|Retail Unit||Calle Montesa, 15||Madrid||1,380,000||2015|
|Retail Unit||Calle Arturo Soria, 301-303||Madrid||650,000||2016|
|Retail Unit||Calle Padilla, 334-336||Barcelona||87,683||2017|
|Retail Unit||Calle José Gutierrez Maroto, 22||Madrid||497,278||2017|
|Retail Unit||Calle Pau Claris, 184||Barcelona||1,535,100||2017|
|Office||Calle Pau Claris, 162||Barcelona||550,000||2018|
|Retail Unit||Avenida de Francisco Aguirre||Talavera de la Reina||4,501,311||2018|
|Retail Unit||Ronda de la República, 145||Barcelona||405,950||2018|
Park Rose also absorbed Inmobiliaria Rentas Internacionales Parkose, S.L. and Property Holdings Corp-USA which own the following
|Office Building||Calle Doctor Trueta, 183||Barcelona|
|Petrol Filling Station||10520 East Colonial Drive||Orlando|
|Retail Unit||16521 South Tamiami Trail||Fort Myers|
In both cases, Renta 4 Corporate was the registered advisor and Renta 4 Banco will act as liquidity provider.