Moor Park Capital sells entire Banco Sabadell bank branch Portfolio to
Mexican Investor Group backed by Moises El-Mann
LONDON -- October 28, 2013
Moor Park Capital LLP ("Moor Park Capital"), the London based specialists in
European corporate finance led net lease real estate transactions for
institutional and retail investors today announced that a group of Mexican
investors led by Moisés El-Mann (the "Investors"), through the Mexican
investment vehicle Branch Management, S.A.P.I. de C.V. ("Branch Management"),
have acquired 100% of the share capital of the Spanish company ISC Fresh Water
Investment, S.L.U. ("ISC Fresh Water"), owner of 253 bank branches in Spain,
for a consideration of approx. EUR 290 million.
These bank branches, located throughout Spain with particular presence in
Madrid and Barcelona, are let to Banco de Sabadell S.A. ("Banco Sabadell"),
and represent one of the largest investments in the Spanish real estate market
ever conducted by Mexican investors.
The bank branches have the benefit of a long term lease agreement with Banco
Sabadell for an initial term of 25 years, put in place at the time the initial
acquisition was closed by Moor Park Capital in April 2010, when 378 bank
branches were acquired from Banco Sabadell. Since that time 125 bank branches
have been successfully sold by Moor Park Capital to individual investors and
the sale of the shares in ISC Freshwater completes the disposal process. Moor
Park Capital have been retained by Branch Management as exclusive asset
managers for the acquired bank branch portfolio. Clifford Chance (real estate
and corporate/M&A), Garrigues (tax) and CBRE Spain advised Moor Park Capital
on the sale and Banco Santander acted as financial advisors to the Investors
and Uría Menéndez advised the Investors in relation to taxation and legal
This transaction represents the first investment of a major acquisition plan
for real estate investments to be undertaken by the Investors in Europe.
The Investors plan to continue their real estate investments in Spain and
Europe to convert Branch Management into a SOCIMI, the Spanish legal entity
equivalent to a REIT (Real Estate Investment Trust) in the near future.
About Moor Park Capital Partners:
Moor Park Capital Partners, led by its founding partners, Gary Wilder, Shemeel
Khan and Jagdeep Kapoor specialises in strategically driven, corporate finance
led, real estate monetization transactions including sale and leaseback
transactions for corporates, governments, financial institutions and
municipalities with single tenants and multiple high quality assets in Europe.
Moor Park Capital acts on a discretionary and non-discretionary basis on
behalf of a pool of investors - both retail and institutional, including
Sovereign Wealth Funds - seeking asset-backed, secured fixed income style,
inflation protected returns. It originates, structures and manages bespoke
investments for its investors. The Moor Park Capital team has extensive
European real estate experience and has undertaken or advised on c£20bn of
Moor Park Capital LLP
Shemeel Khan/Javier Paz Valbuena, +442030111572
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