BCI Asset Management-run fund pays $11.5 million for Chilean property company DOM SpA
Fondo de Inversion BCI Invinsa Rentas Inmobiliarias, a public investment fund managed by BCI Asset Management Administradora General de Fondos S.A. ("BCI Asset Management"), has acquired Inmobiliaria DOM SpA in Santiago, Chile.
The acquisition was made through its subsidiary, Inmobiliaria Invinsa Puerta del Mar SpA, and 100% of the shares were issued by Inmobiliaria DOM SpA.
DOM SpA is the exclusive owner of an office and warehouse building with a total built-up area of approximately 8,660 square meters located in the Chilean capital.
In order to obtain additional financing to help complete the $11.5 million transaction, Inmobiliaria Invinsa Puerta del Mar SpA entered into an amendment to the credit facility agreement in December 2020 with Banco de Crédito e Inversiones and certain pension funds managed by Administradora de Fondos de Pensiones Provida S.A.
The closing of the transaction took place on June 15th. BCI Asset Management was represented by Ried Fabres, with the participation of partners Cristián Fabres and Ricardo Abogabir. Los Aromos SpA was advised by the law firm Garrigues via partner Jaime de Larraechea. For its part, Baraona Marshall & Cía. advised Banco de Crédito e Inversiones and Administradora de Fondos de Pensiones Provida S.A., with attorneys Raúl Marshall and Rodolfo Vega participating.
This is the third investment made by the BCI Invinsa Rentas Inmobiliarias Investment Fund in this type of assets. In 2020 it acquired all the shares issued by the companies Inmobiliaria Puerta del Mar SpA and Invinsa Central Bodegas SpA, exclusive owners of four of the largest warehouses in Santiago.BCI Asset Management has more than 30 years of experience advising individuals, companies and institutions in the management of assets, through the administration of mutual funds, investment funds, voluntary pension savings, portfolio management, among others. The company has over $10 billion in assets under management.
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