Property companies Ballester and Monteverde have agreed to jointly found a new real estate company and an agreement may be signed next week, according to unnamed sources from the sector. The new company will be owned 80% by Ballester and 20% by Monteverde and will start with a capitalisation of EUR 300 mln.
Property companies Ballester and Monteverde have agreed to jointly found a new real estate company and an agreement may be signed next week, according to unnamed sources from the sector. The new company will be owned 80% by Ballester and 20% by Monteverde and will start with a capitalisation of EUR 300 mln.
The new venture will mainly target Madrid and Barcelona properties, and will comprise a unit focusing on parking areas. Valencia-based Ballester has recently sold its Marina shopping centre to the investment fund Pradera European Retail for EUR 70 mln.
Construction group Monteverde announced on Thursday the purchase of the Spanish property company Mola for EUR 143.5 mln. Spanish Mola's portfolio includes two office buildings in Madrid and a mixed-use property that is also located in the Spanish capital. Monteverde is specialised in the luxury property sector.
