Club MeetingLondon, March 1st

Club Meeting

Investment still flowing or has the well run dry?

GRI Club members met on Wednesday, 1st of March, to discuss investment opportunities in Spain. The economic situation of Spain seems to remain positive, a high number of international investors still have their eyes in the market but opportunities are scarce, showing a shortage in good quality assets.

In this discussion Club members gathered to exchange their feedback on the Spanish market together with members from Spain (investors and developers), sharing impressions concluding the market has a challenging environment and few opportunities out of Madrid, Barcelona and coastal Spain but remains optimistic.

As per GRI style, there were no presentations or speeches to prepare in advance. It was an informal and intimate occasion for exchanging thoughts and viewpoints.

Registration

Attendance is reserved exclusively for GRI Club Members.

Membership is available to senior investors, lenders and developers in real estate.

Non-members can enquire here to become a member and join the club meeting.

Related events
Participants include
Barnaby KelhamBarnaby KelhamCEOUK and European Investments
Brian BetelBrian BetelManaging PartnerASG Iberia Advisors
David BrushDavid BrushCIOMerlin Properties
Edouard FernandezEdouard FernandezPartnerEQT Partners UK Advisors II LLP
Florent DansetFlorent DansetPrincipal, Real Estate Debt StrategiesBlackstone
Fraser DentonFraser DentonDirector and Head of Continental EuropeUK & European Investments Ltd
Jasie LeekhaJasie LeekhaPrincipalGreenOak Real Estate
Javier BeltránJavier BeltránHead of Europe & CEO Spain and PortugalThe Carlton Group
Jesús Valderrama MartínJesús Valderrama MartínCo-Founder & Managing PartnerIBA Capital Partners
Joan VidiellaJoan VidiellaManaging PartnerSpinnia
Jordi Sans DomenechJordi Sans DomenechGeneral ManagerVolumetric

More records

Barnaby Kelham
CEO
UK and European Investments
United Kingdom
Biography:
Barney has been with UK & European since 2003 and during his tenure has transacted over £1 billion and developed over 1 million sq ft. Prior to joining UK & European, Barney was with an investment agent with CBGA.
Brian Betel
Managing Partner
ASG Iberia Advisors
Spain
Segment: Private Equity Real Estate Investment
Biography:
Brian has worked for 25 years in the RE sector investing and managing assets in 6 countries covering a wide range of products in Private Equity RE including CRE value add, turnarounds and residential, hotel and resort development in addition to alternative asset classes. Brian has a further specialty in debt and NPL acquisitions and workouts navigating insolvency processes to unlock value in distressed special situations. He spent 14 years in North America and Europe at a major PE fund with his final position as MD in Spain before opening the ASG Iberia office in Spain as the Managing Partner and setting up ASG Homes Propcorp as a Founding Partner currently developing multifamily residential projects in ten cities throughout Spain.
David Brush
CIO
Merlin Properties
Spain
Segment: Acquisition & Management of Commercial R
Biography:
David Brush has over 30 years’ experience as a real estate professional. He started his career at Philadelphia National Bank in 1983 and moved to Bankers Trust (now part of Deutsche Bank) as a Vice President in 1987. During his 20-year tenure at Bankers Trust/Deutsche Bank Real Estate, Mr. Brush founded the Real Estate Opportunistic investing division, where he was a Global Head and CIO of the business for 13 years. During that time, he supervised the completion of over 150 transactions consisting of real estate acquisitions, equity investments, corporate recapitalisations and distressed loan portfolio acquisitions with an enterprise value in excess of $50,000 million.
Edouard Fernandez
Partner
EQT Partners UK Advisors II LLP
United Kingdom
Segment: Investor
Biography:
Edouard Fernandez joined EQT Partners in January 2015 and is Partner and Co-Head of EQT Real Estate. He has over 27 years of experience in the real estate industry working throughout Europe. Prior to joining EQT Partners, Mr. Fernandez was co-founder and Managing Director of Wainbridge Limited, a private real estate investment, development and asset management company. He previously held management positions at Hines, where he was responsible for establishing several of their overseas offices and for developing approximately €1.30 billion (450K sq m) of commercial & residential real estate. Mr. Fernandez has a Bachelor of Science in Finance from Boston College and a Master of Science in Real Estate from M.I.T.
Félix Llorente Sanz
CEO
Wilcox
Spain
Segment: Inversor / Desarrollador
Biography:
8000 residential units developed, 300000 m2 Logistics under development, 50000m2 retail High STREET under management, 16000m2 Houses for seniors under development, 120 Student Housing units recently open. TRAINING: • IESE - Senior Business Management Program • Bachelor of Business Administration and Management. • Technician in Business Administration and Management • Master in Financial Management • High Executive program RE Management and Valuations • High Executive degree grade: Private equity and structured finance • Executive Administration Program. PROFESSIONAL PROFILE: • General Director of Grupo Wilcox • Vice President of AEDHE • Member of the Board of Directors of CEIM • Member of ULI and ICSC.
Florent Danset
Principal, Real Estate Debt Strategies
United Kingdom
Segment: Investor
Biography:
Florent Danset is a Principal in the RE Debt Strategies Group and is based in London. Since joining Blackstone, Mr. Danset has been involved in sourcing, underwriting, negotiating and structuring RE debt investments across all asset types in the UK and Continental Europe. Prior to joining Blackstone in 2012, Mr. Danset was an Assistant Vice President at Partners Group responsible for originating, underwriting, and executing RE debt and equity transactions in Europe with positions in London, Switzerland, and San Francisco. Prior to joining Partners Group, Mr. Danset was an Analyst at ANZ Investment Bank in Singapore. Mr. Danset received an M.Sc. in Management from the ESSEC business school in Paris. Mr. Danset is a CFA charterholder.
Fraser Denton
Director and Head of Continental Europe
UK & European Investments Ltd
United Kingdom
Biography:
Fraser has a wealth of experience in developing and repositioning real estate spanning 20 years. Fraser has been based in Spain for 14 years and has held the position of development director for Lend Lease in Madrid and as managing director of his own company Denton Developments and of Milligan. His projects include the development of Barreiro Retail Planet in Lisbon, the transformation of Maremagnum into an ICSC award winning retail destination in Barcelona and the development of the 68,000m2 award winning TresAguas shopping centre in Madrid.
Jasie Leekha
Principal
GreenOak Real Estate
United Kingdom
Biography:
Jasie is a Principal based in London, and is involved in the sourcing, structuring and management of GreenOak’s pan-European investment activities. Jasie joined GreenOak from Lehman Brothers Holdings, where post-Lehman bankruptcy, he was managing their pan-European real estate portfolio and was involved in restructuring some of Europe’s largest real estate transactions. Prior to this, Jasie was a Director in the Lehman Brothers European Real Estate Group, where he invested equity in direct real estate across Europe using Lehman Brothers proprietary capital and led senior debt and mezzanine financings across Europe. Jasie has a Business degree from McGill University and an MBA from the Wharton School.
Javier Beltrán
Head of Europe & CEO Spain and Portugal
The Carlton Group
Biography:

Mr. Beltran is Managing Director of the Carlton Group for Iberia and has more than 18 years of investment banking, real estate and capital markets experience throughout Spain, Portugal and rest of Europe. Most recently, he was a Managing Director of UniCredit’s Investment Banking division and had previously worked for UBS, Morgan Stanley and Barclays Capital. Over his career, Mr. Beltran has intervened in the completion of more than $20 billion in European transactions, including a wide spectrum of equity and mezzanine investments and direct lending transactions. He holds a PDG degree from IESE Business School and graduated from CUNEF with a BD in Business Administrations & Finance.

Jesús Valderrama Martín
Co-Founder & Managing Partner
IBA Capital Partners
Spain
Biography:
Co-Founder and Managing Partner of IBA Capital Partners. He graduated in Economic and Business Sciences and specialized in Finance from the University of Bayreuth, Germany. His career started at the International Department of the Eurohypo Bank. He worked for some years at the bank's headquarters in Frankfurt (Germany) and was the operations manager of the bank in Spain. Jesús started the introduction of the bank into Latin America (Mexico).
Joan Vidiella
Managing Partner
Spinnia
SPAIN
Biography:
A multilingual, multicultural professional with more than twenty years of first class commercial and corporate real estate expertise. Joan has worked on both the occupier and investment sides of the business in commercial (office, logistics-industrial), hospitality and residential sectors across Europe, the Middle East and the Americas, and has held senior roles at several top FTSE 100 and IBEX companies. Strong relationship management skills and in-depth understanding of the property development process. Specialties: RE Investment structuring and management, Corporate real estate, Development, Property management. Large experience at strategy deployment to preserve capital and achievement of long-term appreciation through performance.
Jordi Sans Domenech
General Manager
Volumetric
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