LabelVie sells 40% of its equity interests in Terramis SPI-RFA

During the second quarter of 2024, LabelVie sold 40% of its equity interests in Terramis SPI-RFA to several renowned institutional investors.

These investors include Al Ajial Holding, Farah Al Maghreb, the Moroccan Pension Fund (CMR), the Deposit and Management Fund (CDG) and Sanlam Morocco, for a total of 473 million dirhams (MDH) of participation, LabelVie indicates in a press release.

Morocco Real Estate Management (MREM), the vehicle’s manager, led this operation, the same source said, noting that this transaction “demonstrates investors’ confidence in the fund’s potential to generate stable long-term returns, as well as in the strength of the LabelVie Group, the main tenant of the assets held by the fund.”

As of June 30, 2024, Terramis SPI-RFA OPCI managed total assets of 1.8 billion dirhams (MMDH) and net assets of 1.2 MMDH. The fund holds 17% of LabelVie’s commercial space, representing 40% of the capital.

For over ten years, LabelVie has been committed to a strategy of separating operational activity from that resulting from the group’s real estate assets in order to finance the Group’s development, optimize profitability from real estate assets through optimal management entrusted to external asset managers and strengthen the Group’s financial balances.

LNT with CdP