Spanish developer Habitat Inmobiliaria has been acquired by Boston-based Bain Capital Credit from a group of financial investors.
Since its foundation in 1953, Habitat has built more than 60,000 properties and it has one of the largest portfolios of new homes under development in Spain. The company also has a ready-to-build and longer-term land bank of 26.9 million square meters.
Bain Capital Credit has built a significant position in Spain, where it has acquired nonperforming loans, leases and real estate valued at more than €3.5 billion ($4.4 billion) since 2014. It plans to create a large real estate platform around the Habitat business. Bain Capital Credit announced in October 2017 that it is the majority owner of a joint venture that controls and manages a portfolio of repossessed real estate assets from Liberbank. Bain Capital Credit began buying nonperforming loans, leases and real estate assets in Europe in 2011 and has since acquired assets in Spain, Italy,
