Värde Partners secures €450m fund for Vía Célere

U.S. alternative investment manager Värde Partners has successfully raised a fully subscribed fund of roughly €450 mln to further invest in Spanish residential developer Vía Célere.

Via Celere

This deal values Vía Célere at close to €1 bn and offers liquidity for Värde's current clients. It also ensures that Vía Célere has sufficient capital to strengthen its leading position in the Spanish market. 
CBRE Investment Management, acting on behalf of its Indirect Private Real Estate Division, anchors the fund with a previously declared commitment of €300 mln. 
Cross Ocean Partners is also contributing around €140 mln, highlighting the institutional backing for Vía Célere's business approach and the appealing prospects within 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 Partners initially invested in Vía Célere in 2017 and, through strategic mergers and acquisitions. In 2024, Vía Célere achieved a record number of residential unit deliveries and possesses one of the most substantial and high-quality land portfolios in Spain, enabling the development of over 12,500 new homes in Madrid and other key urban areas. 
Evercore and Eastdil Secured served as advisors to Värde in this endeavor.