Manuel Lao, a prominent businessman from Terrassa, has recently expanded his presence in the real estate sector by acquiring a 10% stake in Teleno Real Estate. This strategic move was made through Nortia Capital Investment Holding, the family business of the Lao family, with offices in Sant Cugat del Vallès and Madrid. The acquisition was reported by El Confidencial, a reputable news source in Spain.
Teleno Real Estate is a real estate fund launched by entrepreneur Josep Maria Xercavins, and it counts with investments from well-known names in the industry such as Xercavins, Crehueras, and Drago. Nortia Capital will now have a seat on the board of directors of Teleno Real Estate, with Juan Antonio Alcaraz, a former CaixaBank executive who joined Lao’s business conglomerate a year ago, representing the company.
Josep Maria Xercavins, the founder of Teleno Real Estate, is a seasoned professional in the real estate sector. In 2018, the fund acquired five buildings in Madrid and Barcelona for a total of 45 million euros. Xercavins partnered with former associates from Tauro Real Estate, his previous venture, including prominent figures like José Creuheras, Roberto Drago, Cristina Guiral, and Marco Creperio Guiral.
Manuel Lao, the founder and former owner of Cirsa, was ranked as the 31st wealthiest individual in Spain by Forbes at the end of 2023. With a fortune estimated at 1.2 billion euros, Lao is the owner and president of Nortia Capital Investment Holding, controlling stakes in companies like Atlas Corporation Patrimonial, Merlin Properties, and Sacyr. Additionally, he owns and leads Halkkon Capital Partners, a company focused on entertainment and leisure in Argentina.
The investment in Teleno Real Estate is part of a broader strategy of diversification and expansion across various sectors for Nortia Capital. The family office of Lao has made investments in hotels, renewable energies, infrastructure, food tech, and real estate, among others.
Overall, Manuel Lao’s acquisition of a stake in Teleno Real Estate underscores his commitment to growing his presence in the real estate market and diversifying his investment portfolio. With a track record of success and a strong network of partners, Lao is poised to make a significant impact in the industry.