Sorros, Paulson and Spanish Hot Properties Agree 2014 is the Year to Invest in Spain
03 Mar 2014
George Soros and John Paulson have both taken €92m stakes in Hispania Activos Inmobiliarios which last week, Hispania announced plans for an initial public offering of remaining shares – having already raised a substantial part of its €500m target from early-stage investors. Its prospectus is awaiting approval from Spain’s regulators.
Mr. Paulson recently said: “We are impressed with the Azora management and think they are well positioned to capitalize on the opportunities that are likely to arise in the Spanish real estate market.” Not surprisingly Mr. Soros declined to comment.
Investment into Spanish real estate more than doubled year-on-year in 2013, to €2.7bn, according to data from Cushman & Wakefield – the highest level since the Eurozone economic crisis in 2010.
Nick Stuart Managing Director of Spanish Hot Properties also believes that 2014 is the year to invest in Spain citing that real estate assets in Spain – which tumbled more than a third between 2007 and 2013, according to figures from the European Central Bank – have become increasingly popular among investors in recent months, as properties in the UK and Irish markets have become more expensive in the wake of international demand.
We are currently having serious professional investors coming to us to acquire substantial real estate assets and whilst these investors are not quite at the level of Paulson and Sorros but they are very serious players.
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