Fully Subscribed Fund Reflects Investor Confidence in Vía Célere’s Business Model and the Strength of Spain’s Residential Market
LONDON – Värde Partners, a global alternative investment firm specializing in credit and credit-related assets, today announced the successful raise of a fully subscribed fund to extend its investment in Vía Célere, a leading Spanish residential developer.
The transaction, which includes approximately €450 million in capital commitments and values Vía Célere at nearly €1 billion, provides liquidity for Värde’s existing clients while also ensuring Vía Célere remains well-capitalized and able to build on its market-leading position in Spain.
CBRE Investment Management (“CBRE IM”), on behalf of its Indirect Private Real Estate Division, is anchoring the fund with a previously announced €300 million commitment. Cross Ocean Partners is also contributing approximately €140 million, further demonstrating institutional support for Vía Célere’s business model and the compelling opportunity in Spain’s residential sector.
Anthony Iannazzo, Partner at Värde and non-executive member of the board of Vía Célere, said: “This is an important milestone for Vía Célere, Värde’s clients and the new partners joining us. The transaction demonstrates our ability to deliver liquidity to our investors while supporting ongoing value creation in an investment theme we believe has room to run. We look forward to working alongside world-class partners in CBRE IM and Cross Ocean to build on Vía Célere’s long and successful track record in Spain.”
Juan Buades, Partner and Head of Iberia at Cross Ocean, said: “Vía Célere combines a best-in-class platform with a high-quality landbank in one of Europe’s most attractive residential markets. We’re pleased to support this next chapter and to partner with Värde and CBRE IM in backing a business with strong fundamentals, a clear strategy and the discipline to deliver long-term value.”
Gary Erskine, Partner and European Head of Trading and Origination at Cross Ocean, added: “This investment reflects our Secondaries strategy of providing liquidity to sponsors and funds where we see clear intrinsic value and strong alignment.”
Värde established its position in Vía Célere in 2017, and through a series of mergers and acquisitions successfully grew the company into one of Spain’s premier homebuilders. Vía Célere delivered a record number of residential units in 2024 and boasts one of the largest, highest-quality landbanks in Spain, with the capacity to develop more than 12,500 new homes across Madrid and other major cities.
Värde was advised by Evercore and Eastdil Secured.
About Värde Partners
Värde Partners is a leading global investment firm specializing in credit and credit-related assets. Founded in 1993, the firm has invested more than $100 billion across the credit quality and liquidity spectrum and currently manages $16 billion in assets. With local investment teams and partnerships in North America, Europe and Asia Pacific, Värde invests across private and public markets with a focus on real estate, asset-based finance and corporate credit. For more information, please visit www.varde.com.
About Cross Ocean Partners
Cross Ocean Partners Management LP (together with its affiliates, including Cross Ocean Adviser LLP) is a global mid-sized specialist asset manager with approximately $10.0 billion of assets under management and 82 employees across its offices in Greenwich (CT), London and Dublin. Cross Ocean is led by Graham Goldsmith, CEO and co-CIO, and Steve Zander, Head of Europe and co-CIO. It invests globally in a broad range of asset classes including real estate. For more information, please visit: www.crossoceanpartners.com. Data as of June 30, 2025.
Vía Célere
Vía Célere is a leading Spanish real estate developer specializing in residential assets. Founded in 2007, Vía Célere is a benchmark property developer in the Spanish residential market holding one of the largest and highest-quality land portfolios. The company advocates for innovation and sustainability as the fundamental pillars of its projects, while also demonstrating a steadfast commitment to the satisfaction of its clients, shareholders, and the professional development of its employees. For more information, visit www.viacelere.com.