Spanish property companies are on a roll. With their prospects brightening by the day and the European Central Bank’s quantitative easing pushing bond rates down, they are tapping the capital markets for cheap debt.
Two restructured victims of Spain’s property crash, Inmobiliaria Colonial and Uro Property, plan issues to refinance a total of €2.34bn of bank debt, while one of the country’s new REITs, Lar Espana, has raised €140m for acquisitions.