EURAZEO PATRIMOINE PARTNERS WITH DAZIA CAPITAL, A RESIDENTIAL PROJECT SPECIALIST IN MADRID, SPAIN

Paris, May 24, 2018 - Eurazeo Patrimoine, the Eurazeo investment division specializing in real estate asset companies, has signed a partnership with Dazia Capital, a Spanish operator and investor dedicated to the acquisition, renovation and split sale of residential buildings in Madrid and Spain's other main cities.

The partnership, which consists in a joint venture between Eurazeo Patrimoine and Dazia Capital, named as Dazeo, will cover:

  • A three-year equity investment program of €70 million for Eurazeo, involving transactions to be completed in Madrid, Barcelona, Valencia and the Costa del Sol;

  • An initial and designated acquisition portfolio of €12 million in equity for Dazeo, comprising three buildings in Madrid (Alcala, Santa Engrancia, and Santa Isabela), of which the first, Alcala, has also been signed as of today. This project will encompass a total of 2,600 m2, including a 23 apartments.

Dazia Capital will be responsible for managing the projects on a daily basis, from development to the sale of finished apartments.

The partnership offers an attractive risk-return ratio for Eurazeo Patrimoine, as demand for downtown housing increases in Spain in the midst of an economic recovery. The signature of this joint venture represents an opportunity for Eurazeo Patrimoine to position itself on the Spanish market over the long term and contribute to the country's residential real estate drive.

Quoting Renaud Haberkorn, Managing Partner of Eurazeo Patrimoine: "In setting up this joint venture, our goal is to develop a value-added residential investment platform that will strengthen our position on the Spanish market. We are already active in Spain, where we own nine hotels, whose performance underscore the vitality of the recovery, and now we wish to capitalize on the turnaround in residential real estate, where prices have not yet reach their 2008 level. To achieve this, we can rely on the local know-how of our partner Dazia Capital, and a seasoned team of professionals with an impressive track record in project sourcing."

Daniel Mazin, CEO of Dazia Capital, added: "By entering into this alliance with Eurazeo, Dazia is accelerating its residential investment program in urban areas and major spanish tourist centers. Our strategy is based on the significant investment needed to improve existing buildings in major cities or to build new ones and meet the growing demand of the population who wish to return to live in the city centre, held back by the obsolescence of the park. We fully share Eurazeo's strategic vision and leaning on this prestigious partner and its teams with recognized skills will strongly contribute to the achievement of our objectives."

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About Eurazeo

  • o With a diversified portfolio of approximately €16 billion in assets under management, including €10 billion from third parties, Eurazeo is a leading global investment company with offices in Paris and Luxembourg, New York, Shanghai and Sao Paulo. Its purpose and mission is to identify, accelerate and enhance the transformation potential of the companies in which it invests. The firm covers most private equity segments through its five investment divisions - Eurazeo Capital, Eurazeo Croissance, Eurazeo PME, Eurazeo Patrimoine and Eurazeo Brands - and through three Idinvest business divisions: Venture Capital, Private Debt and Dedicated Portfolio & Funds. Its solid institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment horizon enable Eurazeo to support its companies over the long term. As a global long-term shareholder, the firm offers deep sector expertise, a gateway to global markets, and a stable foothold for transformational growth to the companies it supports.

  • o Eurazeo is listed on Euronext Paris.

  • o ISIN: FR0000121121 - Bloomberg: RF FP - Reuters: EURA.PA

About Dazia Capital

  • o Dazia Capital is a real estate operator in Madrid. The business strategy is focused on the residential market in urban centres and the best tourist locations in Spain. The firm closed 2017 with a cumulative investment of 185 million euros. This investment has been carried out through the gradual acquisition, over the last three years, of different buildings and floors covering an area of 86,000 square metres and 500 homes located in Madrid and the Costa del Sol.

For more information, please visit the Group's website:www.eurazeo.com

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Eurazeo SA published this content on 24 May 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 24 May 2018 16:02:02 UTC