Tuesday, October 29, 2013

Moor Park Capital sells entire Banco Sabadell bank branch Portfolio to Mexican Investor Group backed by Moises El-Mann

ME Newswire / Businesswire

LONDON - Monday, October 28th 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 issues.

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 transactions.



Moor Park Capital LLP

Shemeel Khan/Javier Paz Valbuena, +442030111572



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