Residencial Gran Canet is a set of 288 apartments whose delivery is scheduled for summer 2022.
Íbero Capital Management (Ibero CM) has carried out its first real estate private equity transaction by acquiring a paralyzed residential project in the province of Valencia that will involve an investment of around 40 million euros.
The acquisition of the Residencial Gran Canet represents the entry of Oak Hill Advisors – who is the capital partner of Íbero CM – as promoters and managers of the project, as reported by the company.
In this way, the firm led by Walter de Luna and Luis Moreno is on the way to having committed, in less than two years, 220 out of the 400 million committed by Oak Hill Advisors.
The purchase of this paralyzed promotion also implies the entry of Íbero CM into the Valencian market, which together with Andalusia represents the focus of the company’s attention in 2019.
For Walter de Luna, CEO of Ibero CM, “the Valencian Community market represents a great opportunity for real estate investment”. “We have seen how multiple projects are being developed in the Alicante area and we believe that the province of Valencia has a similar or even higher potential,” he said.
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