Hedge Funds Are Buying Spanish Real Estate After Slump, FTD Says
Hedge funds and private-equity firms are buying Spanish real estate after prices slumped, Financial Times Deutschland reported, citing Adolfo Ramirez-Escudero, the head of investment at CBRE Group Inc.’s Spanish business.
Ramirez-Escudero advised on four property deals valued at more than 100 million euros ($124 million) that were completed in recent months, the newspaper said. His clients are in talks about another 1.8 billion euros of transactions, more than twice as much as a year ago, FTD said.
Banco Bilbao Vizcaya Argenta (BBVA) SA, a Bilbao-based bank, sold 2,500 properties in the first half, 40 percent more than a year ago, according to FTD.
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