U.S.-based investment firm Castlelake is contemplating the sale of its majority stake in Spanish real estate company Aedas Homes, according to a Wednesday report by Spanish newspaper Cinco Dias, citing unnamed market sources.
Castlelake holds a 79% share in Aedas Homes, valued at approximately €845 million ($933 million), with the company’s stock currently at its highest levels in over two years, according to data from LSEG.
The sale is still in its preliminary stages, as noted by Cinco Dias. Under Spanish market regulations, any prospective buyer of Castlelake’s stake would be required to make a full offer for all outstanding shares of Aedas Homes.
Founded in 2005, Castlelake manages nearly $22 billion in assets for more than 200 institutional investors.
Both Castlelake and Aedas Homes have yet to respond to requests for comment on the potential sale.
