CITI creates a Club for Investment in Spain targeting the Spanish Real Estate Market.

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CITIBANK investing in Spain

December, 2014

According to the Spanish newspaper “Expansion”, the American CITIBANK  starts a joint-venture with the Spanish firm Mazabi to invest €400Million in properties in Spain, with a 15% yearly return expected.

Citi has qualified Spain as an appetizing country in terms of investment, and major international fortunes have put the spotlight in this market.

To channel this growing interest, especially in real estate, the American bank is creating an investment club aimed at High Net Worth individuals (HNWIs) all over the world. 

Fernando López Muñoz -Director of Global markets in Citi Private Bank for Spain, Italy, Portugal, Latin America and EMEA- explains that "this club intends to invest in Spain one minimum of €200 million, which can be eventually leveraged to €400 million.

The Investing Club brings together the capital of 15 to 20 families with a minimum net worth of €100 million each. These families commit to invest although they are not required to do so (soft commitment) €10 million in opportunities that will be proposed by Mazabi.

Most of the club members are from Latin America and Middle-East, but there are also investors from the USA and Europe.

The vehicle is aimed to work for 5 to 7 years with an expected annual yield of 15%

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