Regional News

Dospuntos completes its integration with Vía Célere and moves its office to Spain

By Editor 0 Comments NEWS, Regional News
With this move, Värde Partners, fund owner of both promoters, ends the process that began last February when it bought Vía Célere to merge it with Dospuntos.
The company, led by Juan Antonio Gómez-Pintado, has modified the name of its mercantile society, passing from Two Points Real Estate Developments to Vía Célere Desarrollos Inmobiliarios, and has changed its registered office, passing to be located in Carrer Carlos and Guillermo Fernández, current headquarters of Via Célere.
With this move, Värde Partners, fund owner of both promoters, ends the process that began last February when it bought Vía Célere to merge it with Dospuntos.
According to the Official Gazette of the Mercantile Registry announces, from now on, the company that had managed the business of Two Points goes on to operate under the name of Via Célere. These changes are in addition to those that the US fund has been carrying out in recent months with the aim of consolidating the business of both promoters under the sign of Vía Célere.
Among them, the decapitation of the old directive dome of Dospuntos with the departure of Javier Eguidazu. After the merger, Värde decided that the manager would take a step back and that Juan Antonio Gómez-Pintado, CEO and Chairman of Vía Célere, would take the helm of the newly created group. Joaquín Ortiz, the until now general manager of real estate development of Dospuntos, also left the company last May, as anticipated by EjePrime.
Värde's steps in Spain have been rapid in recent years. In 2015, the US fund took control of the real estate of the San José group (the defunct Parquesol), acquiring the debt of the banks that stayed with San José Inmobiliaria. In June of last year, Värde's next step was to rename his real estate business with the launch of the promoter Dospuntos and to launch a plan to invest €2,000 million in the construction of homes throughout the country until 2021. Thus, Värde Partners, which was made in February with Vía Célere for €90 million, continues with the construction of a group specialized in residential development, which will focus on providing comprehensive services in the sector, also strengthening its industrialization and energy efficiency processes.
The resulting company will have a land portfolio of more than one million square meters. The group has already drawn the roadmap that will follow with the new company, which is born with a business plan for two years and with more than 10,000 homes, between ongoing projects or portfolio. Once everything is in order, Värde Partners advances Vía Célere in the stock exchange.
The US fund signed last August to Credit Suisse and Jefferies-Arcano to take over the contacts with investors, while CaixaBank will act as placement bank. The fund has set the goal of placing around 60% of the company on the stock market.
Värde's plans were for Vía Célere to jump to the parquet floor at the beginning of 2018, but the move could take place at the end of 2017, after the results the real estate sector is reaping on the stock exchange.
In addition, the fund continues to grow the business of the developer with the purchase of more land in Spain. The company has recently invested €100 million in nine floors. The land, distributed among several provinces, will allow the developer to increase its buildable area by 212,016 square meters and build 1,907 new homes. Specifically, the real estate has acquired two floors in Madrid, located in Barajas and Pozuelo, with 89,100 square meters of buildability. In them, you can develop some 828 homes. In Catalonia, Vía Célere has built new floors, located in Barcelona and Girona, to promote another 242 homes. The other plots, with more than 105,000 square meters that can be built, are divided between Valencia, Seville, Malaga, Tenerife and La Coruña, and will allow you to build some 837 units. In total, Via Célere's assets have a value of €704 million, with 10,054 homes under construction. Before the integration of Dospuntos, the developer achieved revenues of 75.4 million in its last year.

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