The Alternative Stock Market approves the incorporation of Castellana Properties
Castellana Properties prepares the incorporation to the Spanish Alternative Stock Market
- The operation will be a listing, aiming at transforming the company in the referential REIT for the retail sector
- Renta 4 Corporate acted as registered advisor, and Renta 4 Bank as liquidity provider
Madrid, July 23rd, 2018 – Castellana Properties (YCPS), Spanish REIT specialized in the acquisition, management and refurbishment of retail real estate assets, received the approval by the Board of Directors of the Spanish Alternative Stock Market (MAB for its initials in Spanish) to be listed from July 25th.
After assessment of the information submitted by Castellana Properties, the Coordination and Incorporation Committee of the MAB announced the approval in terms of compliance with the prerequisites for the incorporation in the REITs segment.
Castellana Properties’ process of incorporation to the MAB will be completed through a listing, aiming at continued growth to become the referential REIT in the Spanish retail sector.
The company, listed on the MAB since Wednesday, July 25th, designated Renta 4 Corporate as the registered advisor and Renta 4 Bank as liquidity provider.
Castellana Properties Shareholders will remain as part of the capital. Currently, Vukile Properties Limited controls 97.4% of the shares, while 2.5% are in the hands of minority shareholders, and the remaining 0.1% are treasury share.
About Castellana Properties:
Castellana Properties Socimi is an investment vehicle in the Spanish real estate market, focused on the acquisition, ownership and refurbishment of retail real estate assets for rent. The company, founded in 2016 under the Spanish legal framework for REITs, is a subsidiary of South African REIT Vukile Property Fund.
The company owns 15 assets in Spain: C.C. Habaneras (Alicante), Parque Oeste (Alcorcón); Parque Principado (Asturias); Mejostilla (Cáceres); La Heredad (Mérida); La Serena (Villanueva de la Serena); C.C. Motril (Granada); Kinepolis RP (Granada); Kinepolis S.C. (Granada); Ciudad del Transporte (Castellón); Marismas del Polvorín (Huelva); Alameda S.C. (Granada); Pinatar Park (Murcia). The company also owns two office buildings, one in Madrid and the other one in Seville.