Tyrus Capital completes second real estate transaction
Tyrus Capital’s European Real Estate Strategies (TERES) has closed its second transaction since the announcement of the acquisition of Tyndaris’ U.K. business by Tyrus Capital on Dec. 16, 2019.
TERES intends to deploy a further €200 million ($218 million) in the coming months. TERES’ mandate includes senior, mezzanine and preferred equity investments secured by both income-producing and development assets with robust business plans across Europe.
The investment represents a whole loan toward the acquisition and refurbishment of the Nova Centre, an out-of-town leisure center near Barcelona, Spain.
Imo Skrzypczyk, co-head of TERES, said, “The unique location of the Nova Centre enables it to monopolize the catchment area, with the high number of pre-leases ahead of the refurbishment demonstrating its strength. Furthermore, the asset’s leisure focus puts it ahead of the curve versus its competitors in the retail sector, as consumers are demandin