In a surprising revelation, the renowned football icon Lionel Messi has unveiled his remarkable collection of real estate assets, estimated at a whopping €223 million ($232 million).
His venture, known as Edificio Rostower Socimi, has been identified as a real estate investment trust and possesses an array of properties including seven hotels, commercial spaces for shops and offices, and residential buildings as detailed in its prospectus.
The REIT’s valuation was fixed at €57.40 on December 30th within the confines of a modest digital-only Spanish exchange called the Portfolio Stock Exchange.
Although originally hailing from Argentina and presently residing in Miami as part of a local team, Messi predominantly spent his formative years in Spain after relocating there at the age of 12 to join FC Barcelona’s youth squads. After a brief interlude in Paris, he made his way to Miami in 2023 shortly following Argentina’s triumph at the 2022 World Cup.
His transition to Miami ignited heightened interest and commercial activity for both his Inter Miami team and the broader Major League Soccer (MLS), America’s premier soccer league.
Unlike some fellow sports luminaries like his perennial rival Cristiano Ronaldo from Portugal who are known for their ostentatious business dealings, Messi has typically maintained a more understated stance on investments.
The decision to list Rostower transpired swiftly with the company officially transforming into a REIT in mid-December right after an attempt by the Spanish government to raise taxes on real estate trusts was thwarted in parliament. REITs currently enjoy preferential tax treatment compared to other corporate entities in Spain.
Typically, investors opt for listing REITs primarily to adhere to legal mandates entitling them to favorable tax benefits rather than solely for fundraising purposes. Notably, data from the Portfolio Stock Exchange website indicates that Messi’s firm is not subject to any free float stipulations.
The choice of listing on the Portfolio exchange is somewhat unconventional given its smaller stature and lesser renown compared to the more widely recognized BME Growth index favored by most REITs operating within Spain.
