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Our partnership with GMP dates back to 1997 when GE Real Estate and GMP took a stake in Renta Inmobiliaria. Today GE RE Iberia has 97.9278% stake of Renta Inmobiliaria.
This joint venture with GMP has been very successful over the years. Most recently we have been engaged in the acquisition of the Cortefiel portfolio in Avenida Llano Castellanos, and the acquisition of Barajas 1, both with the participation of 90% by GE Real Estate and 10% by GMP. Finally, the acquisition of Condesa de Venadito offices with the following equity stake, with a split of 80% GE Real Estate and 20% by GMP.
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Our JV with Coperfil Group is focused on logistic developments. In 2006, Coperfil joined a pool of bidders for the acquisition of several logistic buildings and offices. Coperfil and GE Real Estate are working together on the development of logistic units in Aranjuez.
We have a second JV with Coperfil in Ponferrada: development of a Retail Park in a plot of land with possibilities of purchase.
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