Inmobiliaria Colonial Nears Debt Restructuring
Commercial Property News reports: Inmobiliaria Colonial SA of Barcelona is reportedly close to finalizing
a $12.9 million deal with its various creditors that could include the
sale of some assets and a future infusion of cash from shareholders.
“We’ve seen this
scenario around the world. This is the time when some of the weaker players get weeded out,”
Fasulo said. “Spain has been one of the hardest-hit markets” in Europe.
Europe’s largest office deal of all time took place in Spain earlier this year, when Banco Santander completed a
$2.8 billion sale-leaseback of its HQ office
complex at Boadilla del Monte on the outskirts of Madrid.
The July/August issue of Global Capital Trends noted that in H1'08, both the total number of
deals and the total dollar value were up compared to H1'07
in Madrid, although both were down for the rest of Spain.
View the full article on Commercial Property News: Inmobiliaria Colonial Nears Debt Restructuring
Posted by: Nina Turner