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| Banimmo Real Estate CVA |
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| Location |
Belgium, Luxembourg and France |
| Date acquired |
Acquired by Global
Fund I in October 2002 |
| Total equity purchase price |
€86.5 million (100%) |
| Structure |
Controlling 88% interest |
| Investment type |
Real estate operating company |
| Description |
Banimmo is a niche developer and property operator with expertise in repositioning and trading grade B assets. With total assets of €299 million at acquisition and an experienced team of over 30 employees, the company delivered profits from a combination of income and asset sales. |
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| Investment strategy |
MGPA worked closely with Banimmo's management in repositioning the company through the sale and acquisition of assets, expanding the company into France and restructuring the management team in order to better position the company for future growth. |
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Throughout the investment period, Banimmo delivered distributions from strong cash flow and development profits which, when combined with the sale of MGPA’s shares in the business, delivered strong returns for investors. Click here to view a selection of Banimmo's high yielding non-traditional assets. |
| Date sold |
March 2006 |
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