American hedge fund BlueMountain Capital Management shuts down Numerous divestments in Spain. With Socimi Optimum III Value-Added Housing, in which it owns 83%, 51 sold household36 parking spaces, 6 warehouses and 2 assets In Madrid, Barcelona, u200bu200bPozuelo de Alarcón, Terrassa, Rubí and l’Hospitalet del Llobregat. Total, Entered 26.59 million Euros it was closed in 2022 for operations.
Biggest sale was 4 houses and 27 parking spaces Total on Avenida de la Carrera 5 in Pozuelo de Alarcón 8.60 millionand two assets on José Abascal street in central Madrid for 4.75 million. For a smaller amount 7 houses on Calle Aragó 309 (Barcelona) for €3.41 million, on Calle Calaf 46 (Barcelona) 3 apartments for €2 million, 7 houses on Calle Magallanes 57, 4 parking spaces and sold 6 warehouses ( Rubí ) 1.3 million and 3 houses and 5 parking spaces on Calle Concepción Arenal 89 (Terrassa) for 433,000 Euros. He also sold 12 houses at 13-15 of Plaza Europa in l’Hospitalet de Llobregat for 4.49 million and 5 houses at 25-27 for 1.57 million.
Who is Optimum III?
Optimum III Value Added Housing was born as a result of the alliance between real estate investment tool manager BMB Investment Management and US investment company BlueMountain Capital Management. The aim of both partners, established in 2017 and listed on the stock exchange, was to invest a maximum of 100 million euros in the purchase of housing in Barcelona and Madrid. company focused on purchasing residential assets. Barcelona Y MadridIt has high profitability and low risk. Your business plan includes the return on real value from a well-positioned opportunity and value creation of projects.
In its final statement to the regulator, it was owned by Bluemontain, which owns 82.73% of the company’s capital, and Itzarri, the Basque Country Administration’s Voluntary Social Welfare Organization for Workers (EPSV), which owns 9.25%. In October 2022, the majority partner provided the following information to the market: He is considering selling his stake in the company.Appointed Arcano Partners as financial and real estate advisor.
According to Gesvalt’s assessment, as of June 30 last year, the company had assets worth €119.18 million and closed disposals worth 10.53 million in the first half of the year. Between January and June, the company posted over half a million euros in inflows and a net profit of close to one million euros as a result of a significant revaluation of its assets.