U.S.-based investment firm CastleLake is contemplating the sale of its majority interest in the Spanish real estate company Aedas Homes, according to a report by Spanish newspaper Cinco Dias on Wednesday, which cited unnamed market sources.
Castlelake holds a 79% stake in Aedas Homes, valued at approximately 845 million euros ($933 million), with shares currently trading at their highest point in over two years, according to data from LSEG.
The sale is still in the early stages, Cinco Dias reported. Under Spanish market regulations, any prospective buyer of this stake would be required to make a bid for the entirety of Aedas Homes’ stock.
Founded in 2005, CastleLake manages nearly $22 billion in assets for over 200 institutional investors.
Neither CastleLake nor Aedas Homes have yet responded to requests for comment.
