Madrid, 10 August.- The SOCIMI Axiare Patrimonio, invests an additional EUR 173 million following its capital increase. The company has expanded its real estate portfolio with the acquisition of eight properties: seven in Madrid, and one in Catalonia. The investment represents 45% of the funds obtained from the fully-subscribed EUR 395 million capital increase conducted in June, doubling the size of Axiare Patrimonio and boosting its market capitalisation to over EUR 840 million. The company plans to invest the remaining funds from the capital increase in new acquisitions in an effort to further expand its portfolio of quality properties in consolidated areas.
With the latest acquisitions, totalling 108,654 m2 of gross leasable area, the company’s portfolio now includes more than 550,000 m2 . Axiare Patrimonio continues to pursue its business plan of expanding its asset portfolio and establishing itself as one of the Spanish market’s leading SOCIMIs.
In Madrid, the company acquired five office buildings and two commercial spaces, located in the capital’s prime districts, in addition to a logistics complex in Catalonia. A portion of these investments will be completed in September with the formalisation and payment of the remaining agreed amounts.
In recent weeks, moreover, the company financed part of its current portfolio by signing two new bilateral loans with Santander and Bankinter amounting to EUR 42.4 and EUR 27.4 million, respectively, in line with its 55% LTV leveraging strategy.
These recent operations comply with the company’s business plan, which focuses on the acquisition of Grade A offices – or those with the potential to become so through its active management strategy – in the centre or business districts of Madrid and Barcelona with the highest demand, as well as logistics platforms along the major distribution corridors, and other tertiary assets in Spain’s consolidated areas.
Since its IPO one year ago, Axiare Patrimonio has closed 18 investment deals valued at EUR 761 million, acquiring 28 assets with a gross leasable area of 550,490 m2 .
About Axiare Patrimonio:
Axiare Patrimonio is a Spanish company that began trading on the Madrid Stock Exchange as a SOCIMI (Sociedad Anónima Cotizada de Inversión Inmobiliaria – equivalent in Spain to the REIT model -Real Estate Investment Trust-), on 9 July 2014 (MC: Axia). Its primary activity is the identification of investment opportunities in the Spanish real estate market and the creation of a prime property portfolio that provides high yields for its shareholders.
The company’s value creation strategy is based on the active management of its portfolio, conducted by a fully-dedicated expert team, and the repositioning of its property portfolio. Axiare Patrimonio’s investment activity focuses on the acquisition of Grade A offices – or those with the potential to become so through its active management strategy – in the most sought-after central and business districts in Madrid and Barcelona, as well as logistics platforms along the major distribution corridors, and other tertiary assets in Spain’s consolidated areas.
Since its IPO in July 2014, the company has completed 18 transactions valued at EUR 761 million, acquiring 28 assets with a gross leasable area of 550,490 m2 . Axiare Patrimonio’s property portfolio consists of 71% Grade A offices, 18% logistics platforms, and 11% other tertiary assets.
Axiare Patrimonio is a member of EPRA (European Public Real Estate Association).