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Annual Report 2015
Mr. Fernando Lacadena has over 35 years’ experience in the field of financing, very oriented
towards the management and performance of the business. In the latter stage of his career,
Mr. Lacadena specialized in the financial area in large multinational corporations, with solid
experience in designing, negotiating and structuring financing operations.
From 2007 to 2014, Mr. Lacadena was CFO of Sacyr Group and he was appointed CEO of Testa
Inmuebles en Renta, S.A. in December 2014. Mr. Lacadena previously worked at ACS-Dragados
Group for 13 years, holding similar positions. He began his career in the audit company Arthur
Andersen, where he worked for 10 years.
Mr. Lacadena holds superior degrees in Law and in Economics & Business Administration, with a
specialization in Finance, from ICADE (E-3).
Mr. Rivas has over 12 years’ experience as a real estate professional. He has worked at Baker &
Mckenzie, GE Capital Real Estate and RREEF, as Vicepresident. During his tenure at RREEF he
has participated in Value Added and Opportunistic real estate investments in Spain, Portugal and
Morocco with an aggregate value of €4,000 million across all property sectors.
Mr. Rivas holds superior degrees in Law and in Economics & Business Administration, with a
specialisation in Finance, from ICADE (E-3) and is a member of the Madrid Bar Association.
Mr. Javier Zarrabeitia has over 30 years’ experience as a real estate professional. He held the
position of Real Estate Manager in Prima Inmobiliaria. He was responsible for feasibility studies,
acquisitions as well as the management and development of different assets of the Company.
Mr. Zarrabeitia also was Executive Director at Trema Gestión, Chief Operating Officer at Pierre 1er
España and Deputy General Director of Foreign Affairs for Acciona Group, living in Maghreb for 8
years.
Mr. Zarrabeitia holds superior degrees in Architecture from ETSAM (School of Architecture of
Madrid) and an Executive MBA from IESE Business School.
Mr. Lázaro has over 16 years’ experience as a real estate professional. He has worked at General
Electric, ING Real Estate and RREEF, as Director with financial and management responsibilities.
Prior to MERLIN Properties, he was in charge of Core/ Core + real estate investments in Spain and
Portugal on behalf of the German Open Ended and Special Funds, managing a portfolio with an
aggregate value in excess of €600 million, including shopping centers, office buildings, hotels and
logistics warehouses.
Mr. Lázaro holds a superior degree in Economics & Business Administration from Universidad
Complutense de Madrid and an Executive MBA from IESE Universidad de Navarra.
MR. Fernando Lacadena, Testa’s CEO
Mr. Francisco Rivas, Business Development
Mr. Javier Zarrabeitia, Asset Management
Mr. Luis Lázaro, Asset Management