ISC Freshwater Investment, an investor group advised by Moor Park Capital Partners, has sold a portfolio of 40 Banco Sabadell branches for nearly EUR 34 mln.
ISC Freshwater Investment, an investor group advised by Moor Park Capital Partners, has sold a portfolio of 40 Banco Sabadell branches for nearly EUR 34 mln.
The assets were largely sold individually to several private investors in a process managed by CBRE and Cushman & Wakefield. The assets - all leased to the Catalan bank under 25-year contracts - are located in Madrid, Barcelona, Galicia, Asturias, Andalucía, Aragón and Castilla la Mancha.
ISC Freshwater Investment announced in September last year that it was seeking a buyer for a second portion of its Banco Sabadell assets. Another 12 units are up for sale. The process follows on the sale in December last year of a first EUR 55 mln portfolio of 48 assets to Pontegadea, the private investment firm of Inditex clothing retail founder Armancio Ortega.
ISC Freshwater is the investment vehicle through which Moor Park and other investors bought a portfolio of 378 Sabadell assets in April 2010 in a EUR 403 mln sale-and-leaseback transaction.
ISC Freshwater is believed to be controlled by a number of real estate funds and institutional investors including Matterhorn Capital, the investment vehicle of property tycoons Anthony Lyons and Simon Conway, New York-based private equity firm Och Ziff and the Livingstone Brothers' London & Regional.
