Inbest, GPF Capital launch new REIT

Inbest and GPF Capital have created a new REIT, which already is established and capitalized, and has completed its first two acquisitions.

The investment strategy of the new REIT focuses on multi-segment real estate assets with a value-added management strategy and on locations or types of assets that are prime due to their characteristics and are considered a safe haven for investors due to their resilience in economic cycles.

Along these lines, the new REIT has completed the acquisition of two commercial buildings from El Corte Ingles for more than €50 million ($50 million). The buildings are located in prime locations in Seville, Spain, a 5,500-square-meter (59,202-square-foot) asset in Plaza del Duque de la Victoria, and in Cordoba, Spain, a 6,660-square-meter (71,042-square-foot) asset in Calle Jesus y Maria 5, 7 and 9.

The asset can accommodate the new trends in high street retail, where the main international operators require new physical shops to b