Vukile Property Fund-backed Castellana Properties completed the acquisition of a 22% stake in Lar Espana for $106m.

Vukile-backed Castellana Properties, a real estate investment firm, completed the acquisition of a 22% stake in Lar Espana, a Spanish REIT, for $106m. “Castellana’s strong cash flow position combined with the right opportunity to invest in Lar España shares, presented us with an exciting prospect to recycle capital into a compelling investment with more attractive yields than other opportunities in the direct property market”, Laurence Rapp, Vukile Property Fund CEO.