Lionel Messi’s real estate trust debuts at 223M euro market cap
Messi’s Real Estate Trust Makes Spanish Market Debut
A real estate investment trust backed by Argentine soccer legend Lionel Messi recently entered the Spanish market with an initial share price of 57.4 euros, resulting in a market capitalization of 223 million euros (US$232.12 million).
Messi, currently playing for Inter Miami and formerly with FC Barcelona, serves as the chairman of the board for Edificio Rostower Socimi, as indicated in documents released by the Portfolio Stock Exchange, a niche European market.
The sole shareholder of Edificio Rostower is Messi’s family investment entity, Limecu Espana 2010, according to the disclosed information.
While the trust is currently under Messi’s ownership, there are plans to welcome new investors in the future, as confirmed by Santiago Navarro, the CEO of Portfolio Stock Exchange, although specific details were not provided.
The company has yet to initiate trading on the exchange, which was established in 2023 and overseen by the Bank of Spain. Trading on this platform is solely permitted when a company intends to sell shares or raise capital, offering enhanced flexibility, control, and cost-effectiveness compared to traditional IPOs.
Edificio Rostower, which made its stock market debut on Monday, owns a portfolio comprising seven hotels in Spain and Andorra, three office spaces, five apartments in Spain, as well as properties in London and Paris, according to the disclosed documents.
Established in 2013, the company reported a loss of 1.7 million euros in 2023, based on the records published by the Portfolio Stock Exchange.
Majority of the trust’s investments are concentrated in the Catalonia region of Spain, where Messi, now 37, relocated in 2000 to join FC Barcelona’s youth ranks.
Following his departure from FC Barcelona in 2021 to join Paris St Germain due to financial constraints faced by the Catalan club, Messi has expressed his desire to ultimately return to Barcelona with his family once he concludes his football career.
Apart from Messi and his wife Antonela Roccuzzo holding key positions on the board, the other board members include Alfonso Nebot, overseeing Messi’s family office, and Ramon Adell, a board member of Spanish energy company Naturgy.
The Spanish government has proposed raising the corporate tax rate for real estate investment trusts, currently lower than other corporate entities, although the plan has yet to secure parliamentary approval.
(Reporting by Joan Faus; editing by Charlie Devereux and Barbara Lewis)
