New American backed Spanish REITs complete IPOs

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

Asset Address City
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.

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