The transactional market in the Spanish Real Estate sector has recorded a total of 344 Mergers and Acquisitions, including both announced and closed deals, for an aggregate value of €5,734 million, according to data from the Transactional Track Record (TTR) platform up to October 2020.

Despite a decrease of 35 per cent in the number of transactions and 58 per cent in the deal value compared to October 2019, transactions in the Real Estate sector lead the Spanish transactional market, above the Technology sector, with 304 transactions; Financial and Insurance, with 111 transactions; and Health, Hygiene and Beauty, with 107 transactions.

In monthly terms, October 2020 saw a total of 30 transactions in the Spanish Real Estate sector with an aggregate amount of €380.85 million and, according to the assessment for the first ten months of 2020 in the Spanish transaction market, February was the most active month in the sector, with 54 transactions and €1,110.69 million of capital mobilised.

Cross-Border Scope

With regard to cross border transactions in the Real Estate market, so far this year, Spanish companies have chosen Portugal as the main destination of their investments with seven transactions. In terms of amount, Portugal has also been the country where Spanish companies have made the largest outlay, with a total amount of €68.44 million.

On the other hand, the United States (28) and the United Kingdom (27) are the countries of origin of the greatest number of investments made in Spain during the year in the Real Estate sector. By amount, Germany leads, with an aggregate amount of €864.50 million.

Outstanding deal in M&A

One of the most outstanding M&A operations in Spain in the Real Estate sector has been the acquisition of 84.66 per cent of the Spanish SOCIMI Uro Property Holdings from Ziloti Holding by Banco Santander, for €152.53 million.
Banco Santander already had 15 per cent of the shares of Uro Property Holdings, which owns 692 bank branches that the bank occupies on a rental basis so that it now controls 99.62 per cent of the company.

Venture Capital

In the course of 2020, 5 Venture Capital operations have been registered in the Spanish Real Estate sector, with a disclosed value of €17 million.

Private Equity

Up to October 2020, four Private Equity transactions have been registered in the Real Estate sector, with a disclosed value of €409 million.

Asset Acquisition

Up to October 2020, 297 Asset Acquisition transactions have been registered in the Real Estate sector, with a disclosed value of €4,474 million.

Source: Iberian Lawyer - Spain