In August 2021, dozens of real estate companies reported their financial results and completed deals started earlier in the year.
The US investment firm Cohen & Steers had taken a 5.185% stake in the capital of Neinor Homes developer to become the third-largest stakeholder, as reported by the company to the Spanish National Securities Market Commission (CNMV).
This is not the first time Cohen & Steers buys a stake in the Spanish developer. It had been among Neinor’s shareholders in 2017, but exited a year later.
Meanwhile, the British risk manager Permira took over a majority stake in the Hamburg real estate broker Engel & Völkers, leaving the Völkers family with almost 40 percent of the shares in the company.
According to Tinsa, 48,201 residential transactions were completed in August. In July, property prices rose by 4.9%, with the Mediterranean coast and archipelagos seeing the highest prices.
The Association of Property Developers of Spain (APCEspaña) asked the government for up to 11,200 million euros to guarantee purchases of 330,000 newly built homes. In other countries, similar programs are implemented successfully, like Help to Buy government-backed scheme in the United Kingdom.
Blackstone’s Socimi Testa Home is planning to sell a portfolio of 700 homes for over 180 million euros. Testa had initiated the deal in 2019; however, it was not completed successfully.
Pryconsa obtained two land plots in a court auction in Madrid, near Madrid Nuevo Norte. Both plots of land cost the developer 30 million euros to build 200 homes on.