Ashurst advised US private equity firm Cerberus Capital Management on the €225 million acquisition of Cimenta2 by its real estate asset management fund Haya Real Estate. Cimenta2 is the real estate asset management division of Spain's Cajamar banking group.

The deal gives Haya Real Estate control of Cimenta2 and its professional team. Under the terms of the deal, the properties will remain on Cajamar's balance sheet but Haya will manage its €7.3 billion real estate loan portfolio for a period of 10 years.

The Ashurst team was led by corporate partner Jorge Vázquez, assisted by senior associate Francisco de León, and associates María García de Vega, Tannia Rodríguez and Manuel Zapata. Partner Eduardo Gracia led on the tax aspects of the deal, assisted by associates Ricardo García-Borregón and Elena Castellanos. Diana Rodríguez advised on the employment aspects.