Peter Korbačka & SONAE launch new Spanish REIT, Trivium

Trivium Real Estate, SOCIMI, S.A. has received the green light from the Board of Directors of the Madrid Alternative Stock Exchange (MAB) for its listing. Trivium will be a Spanish public limited company operating under the special SOCIMI (real estate investment trust) tax regime (11/2009 Act of 26th October, modified by the 16/2012 Act).

The fund’s underlying is the portfolio of three shopping centres Peter Korbačka purchased during 2018 in a JV with SONAE. These are Gran Casa, Max Center and Valle Real which were previously partly owned by Dutch pension fund Stichting Pensioenfonds ABP through property vehicle APG Strategic Real Estate Pool.

Sonae Sierra will be the asset manager of the Spanish REIT bringing over 25 years’ of experience in the field and 92 shopping centres under management. The Portuguese retail giant also has experience managing other Spanish REIT vehicles, such as ORES, a fund which invests in retail properties with capital from Bankinter’s private banking clients.

The main objective of the fund will be to generate value for its clients through the long-term management of shopping centres, using the knowledge and experience of Sonae Sierra

This will be the sixth Spanish REIT to list on the MAB this year and it is expected to do so on the 3rd of July. The Board of Directors of the company has set a reference value of €51 per share bringing the market capitalisation to €255 million euros.

The REIT’s ticker will be «YTRI» and VGM Advisory Partners has been the registered advisor whilst Bankinter will act as a liquidity provider

The Information Document of TRIVIUM REAL ESTATE is available on the MAB website (http://www.bolsasymercados.es/mab).