Habitat, one of the leading companies to promote Spain, has been acquired by Bain Capital Credit (a US investment fund). The Catalan real estate company was founded in 1953 with 2.5 million(m2) of land, and hopes to gain traction in the market with the arrival of the new shareholder - and in turn, place itself on the Spanish board with some of the biggest promoters.
Bain Capital has gained ground in Spain since 2014 thanks to the acquisition of 'non-perfoming loans', leases and real estate assets for more than 3,500 million euros. Bain Capital announced in October 2017 that it is the majority owner of a joint venture that manages and controls a portfolio of assets from Liberbank.
At the end of last year, on December 22, he closed the purchase of Habitat, an operation in which he competed with other funds such as Oaktree or Apollo. With this operation, the objective of the US fund is to create a large real estate platform based on the Habitat business. "We believe that Spain is one of the most attractive real estate and NPL loan markets in Europe. The considerable size of the land portfolio that Habitat has in the main cities of the country is a great opportunity to expand our presence in the residential development segment, "explains Fabio Longo, head of business at Bain Capital in Europe.
The above article was written and published in Spanish and has been translated into English. Click here to read the original article.
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