Stoneweg disposes of former Coca-Cola bottling plant in Madrid on behalf of Icona Capital
GENEVA, Switzerland, Oct. 31, 2022
Stoneweg SA (‘Stoneweg’), the real estate investment advisor, has completed, on behalf of the Icona Capital Group (‘Icona’), the sale of the former bottling plant of Casbega in Fuenlabrada, a large industrial site in Madrid, to Thor Equities (‘Thor’).
Stoneweg acquired the former bottling plant in the Nino del Remedio Industrial Estate in 2020. The 211,000 sqm of industrial space adjacent to Madrid’s inner ring-road is strategically located in the municipality of Fuenlabrada and benefits from excellent transport links. The sale to Thor, as part of its own stated expansion to build up Thor Digitaland, will result in an investment of €600 million and turn the site into a state-of-the-art data centre.
Stoneweg and Icona have been working together for over 3 years.
Jaume Sabater, CEO of Stoneweg, commented: “Stoneweg has become a highly trusted partner of Icona, having executed the original acquisition of this asset as well as its successful sale, just two examples of our expert team’s ability to deliver strong returns on behalf of our clients. We hope to continue our relationship with Icona and look forward to working with them again in the future.”
Speaking after closing this substantial deal, Max-Hervé George commented: “We worked closely with Stoneweg to locate a site of this quality in Madrid as part of our investment expansion into southern Europe. We have been very pleased that its location and opportunity has been recognised by Thor.”
Stoneweg, headquartered in Geneva, identifies real estate opportunities, structures investment products and manages dedicated mandates in Switzerland, Spain, Andorra, Italy, UK, Ireland and the USA. It has enjoyed a strong period of growth since its inception in 2015 and now employs over 140 professionals.
Icona is an independent investor controlled by Max-Hervé George. It is headquartered in London with further offices in Geneva and Luxembourg. Icona has more than €2.5bn of gross assets under management across different business segments ranging from real estate, credit and private equity to special situations.
Icona was advised by the Swiss banking group, CBH Bank of Geneva.
Stoneweg (www.stoneweg.com) is a real estate asset manager and investment advisory group established in 2015 and headquartered in Geneva, Switzerland. The Group relies on local operating teams to identify, develop and manage real estate investments around the World.
To date, Stoneweg has invested more than €5 billion in real estate in various sectors including residential, commercial, logistics and hospitality. Stoneweg’s expertise lies in both equity and debt investment strategies. Its clients include financial institutions and family offices that invest in a variety of structures, including club deals, joint ventures and co-investments.
With more than 140 employees, Stoneweg is present in Switzerland, the United States, Spain, the United Kingdom, Ireland, Andorra and Italy. Since 2015, Stoneweg has completed more than 300 acquisitions alongside best-in-class partners.
About Icona Capital
Icona Capital Group (www.iconacapital.com) is an independent investor and financial advisory business (established by Max-Hervé George) registered and headquartered in London W1 with further offices in Geneva and Luxembourg. It advises a growing number of its own special purpose vehicles across different business segments in real estate, credit, private equity and special situations. Icona now has in excess of €2.5bn of gross value assets in Switzerland, Spain, France, Italy, Greece, Ireland, the UK, Poland, Hungary, Serbia, Croatia, Romania, Bulgaria, Austria and the USA.