By The Rio Times | Created at 2025-01-01 08:57:25 | Updated at 2025-01-04 04:46:22
2 days ago
Soccer superstar Lionel Messi has made a bold move into the real estate market. The Argentine player listed his property portfolio as a Real Estate Investment Trust (REIT) in Spain. This venture, named Edificio Rostower Socimi, debuted with a valuation of €223 million ($232 million).
Messi’s REIT owns a diverse array of properties. It includes seven hotels in Spain and Andorra. The portfolio also features commercial spaces for shops and offices. Additionally, it holds residential properties in Spain, London, and Paris.
The company’s shares hit the market at €57.40 each. They were listed on the Portfolio Stock Exchange, a small digital-only Spanish bourse. This choice of exchange surprised many, as most Spanish REITs prefer the more prominent BME Growth index.
Messi serves as the chairman of Rostower’s board. His wife, Antonela Roccuzzo, holds the position of vice-president. The couple’s involvement underscores their commitment to this business venture.
Lionel Messi Ventures into Real Estate with $232 Million Portfolio – Catalonia. (Photo Internet reproduction)Despite its impressive valuation, Rostower faces some challenges. The company reported losses in both 2022 and 2023. These financial hurdles haven’t deterred Messi from pursuing this investment strategy.
The timing of Rostower’s listing is noteworthy. It came shortly after a blocked attempt by the Spanish government to increase taxes on REITs. This move allows Messi to benefit from the current favorable tax regime for such trusts in Spain.
Lionel Messi Ventures into Real Estate with $232 Million Portfolio
Messi’s decision to invest heavily in Catalonia is significant. It reflects his deep ties to the region where he spent most of his career. The soccer star has expressed his intention to settle in Barcelona after retirement.
This real estate venture marks a new chapter in Messi’s financial playbook. It shows a shift from his traditionally low-key approach to business investments. The move aligns with a broader trend of athletes diversifying their wealth beyond sports.
Messi’s REIT listing highlights the potential of property investments in culturally rich areas. It demonstrates how high-profile athletes can create long-term financial stability beyond their sports careers.
