A real estate investment trust (REIT) owned by Argentine soccer star Lionel Messi made its debut on the Spanish stock market at €57.4 per share, giving it a market capitalization of €223 million ($232.12 million).
Messi, currently playing for Inter Miami and a former FC Barcelona forward, is listed as chairman of the board of Edificio Rostower Socimi in official documents from the Portfolio Stock Exchange, a European alternative market.
The REIT’s sole shareholder is Messi’s family investment vehicle, Limecu Espana 2010, according to the documents. However, the trust has indicated plans to open up to new investors, according to Santiago Navarro, CEO of the Portfolio Stock Exchange, who confirmed the development to Reuters.
The trust has not yet begun trading, as the exchange, which launched in 2023 and is overseen by the Bank of Spain, only permits trading when a company seeks to sell shares or raise capital. Navarro explained that this structure allows for greater flexibility, control, and lower costs compared to traditional IPOs, with any share purchase requests subject to shareholder approval.
Edificio Rostower did not respond to inquiries regarding its stock market debut, which occurred on Monday.
The company’s portfolio includes seven hotels in Spain and Andorra, three office spaces, and five apartments in Spain, as well as additional properties in London and Paris. Established in 2013, Edificio Rostower reported a €1.7 million loss in 2023, according to records from the Portfolio Stock Exchange.
Most of the company’s assets are located in Catalonia, the region where Messi, 37, moved in 2000 at the age of 13 to join FC Barcelona’s youth academy. He lived there until 2021, when he left the club to join Paris Saint-Germain after Barcelona was unable to meet financial fair play regulations.
The eight-time Ballon d’Or winner has stated his intention to return to Barcelona with his wife and three children after retiring from soccer.
Messi’s wife, Antonela Roccuzzo, serves as vice president of the board, while other board members include Alfonso Nebot, who manages Messi’s family office, and Ramon Adell, a board member of Spanish energy company Naturgy.
In November, Spain’s government announced plans to raise the corporate tax rate for real estate investment trusts, which currently benefit from a lower tax rate compared to other businesses. However, the proposal has yet to gain sufficient support in parliament.
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