US private equity group Värde Partners is understood to be marketing its Vía Célere residential development platform in Spain for sale.
Värde has hired Credit Suisse and Deloitte to lead the sales process which could take the form of a direct sale as well as a merger with another development company in the country.
Vía Célere owns roughly €1.6 bn of assets largely consisting of residential units and development land. In particular, the firm currently has a total of roughly 8,000 units which is either developing or selling to final users.
Värde bought the platform in 2017 together with other investors for a net price of around €90 mln.
Vía Célere posted €305 mln of sales in the first half of 2021 and posted a net gain of €43 mln. The company's loan-to-value stands at 13%.
