Buenavista Equity Partners, a private equity manager specialising in Spain’s lower/mid-market segment, through its Buenavista NextGen Urbano fund, has formalised senior financing of €15.1 million for New Capital Aparcamiento Torrecárdenas, S.L., a company established by New Capital 2000 as the holder of the 35-year administrative concession awarded by the Andalusian Health Service, with the involvement of investor Hercainvest Solutions. The project comprises the construction and operation of a six-storey multi-storey car park next to Torrecárdenas University Hospital in Almería.
The total investment in the project is estimated to reach €23 million. Alongside the senior debt provided by Buenavista, the investment will be completed with equity contributions from the participating investors.
The funding will enable the development of infrastructure capable of accommodating 2,002 vehicles, replacing and reorganising the hospital’s existing parking areas, which have suffered from structural deficits and accessibility issues for patients, visitors and healthcare staff. The project will incorporate sustainable mobility and energy efficiency measures, including 240 electric vehicle charging points, parking for 330 bicycles, and a rooftop photovoltaic plant for self-consumption. In addition, the facility will include a recreational area and café, to be made available to the hospital for public use and located on the rooftop. The project is expected to generate over 200 jobs during the construction phase and create 10 permanent roles once operational.
Victoriano López-Pinto, Managing Partner at Buenavista Infrastructure, commented, “Public-private collaboration is essential to the development of urban infrastructure that truly enhances people’s quality of life. This financing will provide tangible solutions for mobility and access in hospital environments, incorporating sustainability and efficiency criteria that will play a key role in the city’s transformation.”
Next Generation EU Funds
Buenavista NextGen Urbano, S.I.C.C. is a vehicle established following the appointment of Buenavista Infrastructure by the European Investment Bank (EIB) as financial intermediary to manage €200 million from the Fund of Funds, with resources from the Regional Resilience Fund (FRA, in Spanish). The FRA forms part of Spain’s Recovery, Transformation and Resilience Plan and is financed with NextGenerationEU funds. The fund supports projects related to affordable housing, urban regeneration and sustainable tourism.
The project meets the eligibility criteria of the Recovery, Transformation and Resilience Plan (PRTR). According to the sustainability due diligence and certifications obtained, the project complies with the Do No Significant Harm (DNSH) principle and is classified as “clean urban transport infrastructure”, with a 100% coefficient for its support to climate change objectives.
Advisors
Cuatrecasas has acted as legal advisor on the transaction
About Buenavista Equity Partners (www.buenavistaequity.com)
Buenavista Equity Partners is an independent management firm founded in 1996 that operates in the middle-market segment. The firm currently manages over €1.3 billion through a range of private equity, infrastructure and venture capital vehicles.
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The funding will enable the development of infrastructure capable of a...
