Brief: Renta Corporacion Formalises Agreements With Dutch APG For Launch Of New Socimi
23/11/2022 06:31
Nov 23 (Reuters) - Renta Corporacion REN.MC :
* SAID ON TUESDAY AGREEMENTS HAD BEEN FORMALISED WITH DUTCH
PENSION FUND APG FOR LAUNCH OF PUBLIC LIMITED COMPANY FOR
INVESTMENT IN REAL ESTATE MARKET (SOCIMI) INCORPORATED UNDER
NAME WELLDER SENIOR ASSETS SOCIMI(WELLDER)
* WELLDER HAS INITIAL COMMITTED CAPITAL OF 125 MILLION EUROS
AND
LEVERAGE TARGET OF 50%, WHICH SHOULD ALLOW INVESTMENT IN ASSETS
OF 250 MILLION EUROS
* APG TO BE MAJORITY INVESTOR WITH 97% STAKE IN WELLDER'S
SHARE
CAPITAL AND RENTA CORPORACIÓN TO HOLD REMAINING 3%
* RENTA CORPORACION TO OPERATE SOCIMI ON EXCLUSIVE BASIS,
TAKING
FULL RESPONSIBILITY FOR ITS ENTIRE BUSINESS AND PROVIDING
SERVICES RANGING FROM PURCHASE OR DEVELOPMENT OF REAL ESTATE
ASSETS TO THEIR COMMISSIONING
* RENTA CORPORACION TO RECEIVE RECURRING COMMISSIONS LINKED
TO
PURCHASE AND DEVELOPMENT OF REAL ESTATE ASSETS IN WHICH WELLDER
INVESTS AS WELL AS FOR MANAGEMENT OF THIS SOCIMI
Source text for Eikon: urn:newsml:reuters.com:*:nCNM83XGhS
Further company coverage: REN.MC
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