Messi’s real estate trust makes its debut in Spain with a market value of 223 million euros

Argentine soccer player Lionel Messi’s real estate investment trust debuted on the Spanish market for 57.4 euros per share, with a market valuation of 223 million euros ($232.12 million).

Data released by the Portfolio Stock Exchange, a tiny European alternative market, names Messi, the former FC Barcelona striker and Inter Miami star, as chairman of Edificio Rostower Socimi’s board.

According to the paperwork, Messi’s family investment company, Limecu Espana 2010, is the sole shareholder of Edificio Rostower.

However, Santiago Navarro, the CEO of Portfolio Stock Exchange, told Reuters without providing further details that the trust has informed the exchange that it intends to open up to additional investors.

Messi’s fund is still not trading.

According to Navarro, the exchange, which was introduced in 2023 and is overseen by the Bank of Spain, only permits trading when a business wants to raise money or sell shares.

He added that any buy request order must first be approved by shareholders, but that the strategy offers more flexibility and control and cheaper costs than typical IPOs.

A request for comment regarding Edificio Rostower’s Monday stock exchange launch was not immediately answered.

According to the paperwork, the corporation has five apartments in Spain, three offices, and seven hotels in Andorra and Spain. It also owns apartments in London and Paris.

According to documents released by the Portfolio Stock Exchange, the firm, which was founded in 2013, reported a loss of 1.7 million euros in 2023.

Messi, 37, went to Catalonia, Spain, in 2000 at the age of 13 to play for FC Barcelona’s youth teams, and the majority of the company’s interests are there.

Before abruptly leaving FC Barcelona to sign with Paris St. Germain in 2021, he lived there. This was after the impoverished Catalan team claimed it could not afford to keep him due to La Liga’s financial fair play regulations.

After he retires from soccer, the eight-time Ballon d’Or winner has long stated that he intends to move back to Barcelona with his wife and three kids.

The vice-president of the board is Antonela Roccuzzo, Messi’s wife. Other board members include Ramon Adell, a board member of the Spanish energy company Naturgy (NTGY.MC), and Alfonso Nebot, who oversees Messi’s family office.

The government of Spain said last month that it will raise the corporate tax rate that real estate investment trusts pay, which is now lower than that of other businesses.

However, it hasn’t been able to secure parliamentary backing for its ratification thus far.

$1 is equivalent to 0.9607 euros.