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Q1 2016: Axiare Increased Profit By 22% To €5.1M

12 May 2016 – El Economista

Axiare Patrimonio generated net profits of €5.1 million during the first quarter of the year, which represents an increase of 22% with respect to the same period last year, reported the Socimi.

The firm increased its revenues from the rental of its assets by 38%, to €10 million.

During the first three months of the year, Axiare purchased two new properties to incorporate into its portfolio, worth €33 million.

Following these acquisitions, Axiare Patrimono’s portfolio of assets amounts to €900 million, comprising offices (71%), logistics assets (15%) and retail premises (14%). 96% of its portfolio is located in Madrid and Barcelona.

Original story: El Economista

Translation: Carmel Drake