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Saturday, April 20, 2024

RE leads the Spanish transactional market, increasing by 19% in 2022

In the first quarter of 2022, the transactional market in the Spanish Real Estate sector registered a total of 160 Mergers and Acquisitions, both announced and closed, for an aggregate amount of €4,840m, according to data from Transactional Track Record (TTR)

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These figures represent an increase of 19.4% in the number of transactions and 94.78% in the number of transactions compared to the same period in 2021, in addition, transactions in the real estate sector lead the Spanish transactional market, ahead of the Internet, Software and IT services sector, with 61 transactions, and Tourism, Hospitality, and Leisure, with 38 deals completed.

In monthly terms, in January 2022, a total of 62 transactions were recorded in the Spanish real estate sector with an aggregate amount of €2,333m.

Cross-Border

As regards cross-border transactions in the real estate market, in 2022 the United States (8), the United Kingdom (7) and France (7) were the countries of origin of the largest number of investments made in Spain during the year in the Real Estate sector. By amount, Germany leads, with an aggregate amount of €867m.

Highlighted M&A deal

One of the most significant M&A transactions in Spain in the Real Estate sector in the first quarter of 2022 was that related to Patrizia AG, a German real estate investment firm, which acquired a portfolio of 1,500 rental properties in the Barcelona metropolitan area through the acquisition of 100% of BeCorp from Scranton Enterprises and Corp Promotores for €601.8m.

Specifically, the assets are at different stages of development, and some of them are already leased.

Cuatrecasas and EY counselled Patrizia Inmobiliem, while the sellers were advised by Uría Menéndez and Osborne Clarke (US).

Uría Menéndez’s team advising Corp Promotores was led by RE partner Juan Antonio Pérez Rivarés, along with RE junior associate Martí Sarri Garrido and Corporate junior associate Rafael García-Perrote.

Cuatrecasas’ team counselling Patrizia was led by partner Ramón Gil, along with associate Morad Hassan.

EY advised Patrizia on Due Diligence and Osborne Clarke (US) advised Scranton Enterprises.

The deal was closed on January 17th.

Venture Capital

In the course of 2022, 2 Venture Capital deals have been registered in the Spanish real estate sector, with a disclosed value of €101m.

Private Equity

In 2021, 1 Private Equity transaction has been registered in the Real Estate sector, with a disclosed value of 14.30%.

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