Madrid, February 23, 2015 – The Socimi Axiare Patrimonio, has published its 2014 annual accounts report and the corresponding auditor’s report to the Spanish Stock Market Commission (CNMV). The results demonstrate that after operating for just six months, the company has achieved results that allow it to propose a distribution of a dividend of €1.45 million in relation to its 2014 results at its Shareholder’s Meeting. Axiare Patrimonio ended its first financial year with a net profit of €2 million, obtained thanks to the management of the property portfolio and a tight cost structure. In this respect, it is particularly important to note that the company acquired 43% of its property portfolio in December, and as a result, the rents generated for these properties had a very limited effect, both on target profit, as well as returns generated. Since July 09, 2014 when Axiare Patrimonio listed on the stock market, the company has completed 8 acquisitions valued at €424 million. The 16 properties that have gone on to form part of the property portfolio, have generated a return on investment of 10,4%, based on the annualized rental income and the value uplift detailed in the portfolio valuation report carried out by CBRE*. In terms of additional events carried out after the closure of the company’s annual accounts, we would also note that Axiare has completed a loan agreement with Caixabank for €72.3 million, with a 14-year term and a leveraging of 55% on four properties in its portfolio (Avenida de la Vega, Diagonal 197, Dos Hermanas and Rivas). In the words of the company’s CEO, Luis López de Herrera-Oria, the results published today “Axiare Patrimonio has exceeded its stated objectives by successfully investing all the equity raised in high quality real estate. Having proposed a dividend for our shareholders, in such a short-time frame, reflects our ability to deliver”. Link to the important information announcement published with the CNMV.
- Axiare Patrimonio becomes the first Spanish real estate firm to receive a loan from the European Investment Bank 21 December, 2017
- Axiare Patrimonio sells Fernando el Santo for €30 million 20 December, 2017
- Axiare Patrimonio, awarded for Innovation at SAP Quality Awards 2017 14 December, 2017
- Axiare Patrimonio: 2017’s most sustainable office properties 12 December, 2017
- Axiare Patrimonio acquires an office property in Madrid for EUR 29.7 million 22 November, 2017