LAR ESPAÑA began to operate as a listed company on the Spanish Stock Exchanges on 5 March 2014, as a SOCIMI (Spanish REIT) with the aspiration to become a reference for asset management in Europe. Lar España’s aim is to generate high returns for its shareholders via its business strategy of owning, operating and renting its Real Estate portfolio, which is mainly focused on Commercial Property Assets in Spain.

On 4th June 2015, Lar España Real Estate SOCIMI was included on the FTSA EPRA/NAREIT Global Index, a select global index designed to showcase the general trends of listed Real Estate companies around the world.

In September 2022, for the eighth consecutive year, LAR España Real Estate SOCIMI, S.A. was awarded the European Public Real Estate Association (EPRA) GOLD Awards 2022, for the quality of financial information made available to its main interest groups. Regarding the information published about ESG, Lar España also obtained the highest distinction by EPRA, achieving for the fifth consecutive year the Gold Award. This highlights the international recognition for the information reported by Lar España and made available to its shareholders. These are the most recognized awards in the real estate sector.

Lar España successfully issued two unsecured senior green bonds, amounting to a total of EUR 700 million. As part of this issue, ISS-ESG conducted an independent review of the company’s sustainability strategy, based on the 2021 Green Bond Principles issued by the ICMA (International Capital Markets Association).

The rating agency Fitch also assigned an investment grade or BBB rating to both Lar España and its green bond issuances. The issuances were led by Morgan Stanley Europe, acting as global coordinator and advising on the sustainable structure of the matter. Which was ratified in July 2022 by the rating agency Fitch that has kept the investment grade rating or BBB rating stable for both the real estate company Lar España and its two green bond issues for a total of €700 million. Lar España, the only real estate company specialized in retail listed in the Spanish Continuous Market, maintains the highest rating in its segment.

The bonds were ultimately placed with qualified investors and are listed on the Euro MTF market of the Luxembourg Stock Exchange. Lar España used the funds to refinance all or part of a selection of real estate assets, in order to reduce carbon emissions by ensuring that these assets are environmentally friendly.

Lar España is investing following a value added approach based on an active management strategy. It is externally managed by Grupo Lar, a family owned, Spanish private Real Estate developer, Investor and Asset Manager with a track record of more than 50 years of international experience. Grupo Lar’s Platform in Spain amounts to 274 professionals out of which more than half are dedicated to Lar España.

The manager is a Spanish company, which combines its investment and development skills with an extended experience in property asset management. Grupo Lar is a dynamic and flexible firm with a great understanding of Spanish and international markets, having successfully confronted the various growth and crises cycles of the industry. Grupo Lar is present in 6 countries with on-shore teams in: Spain, Mexico, Peru, Brazil, Poland and Colombia. Currently, Grupo Lar has a wide range of products and markets under its portfolio allowing it to cater for the different demands the market may present it with. The company is active in primary residence, secondary residence, business parks and offices, industrial parks, retail parks.