19 September 2018 – Eje Prime
A steady flow of Socimis is continuing to debut on the stock market. The Coordination and Incorporation Committee of the Alternative Investment Market (MAB) has approved the debut of Azaria Rental Socimi, specialising in the rental sector. The Socimi will start to trade at a price of €5.40 per share, which means that its valuation will amount to €45 million.
Azaria Rental will trade with the code YAZR in the fixing modality, typical for securities with lower volumes and liquidity, given that it concentrates the supply and demand for the shares at 12 noon and 4pm each day.
Renta 4 Corporate is the registered advisor of the company and Banco Sabadell will act as the liquidity provider, according to a document submitted to the MAB. Azaria Rental has just one asset: it owns 100% of Bifur Investments, in turn, the owner of an industrial and office complex located at number 40 on Calle Miguel Yuste, where the El País newspaper is headquartered.
The tenant has a contract in force, with a mandatory duration of 25 years starting in 2008. The annual rent amounts to €4.9 million (…).
The objective of Azaria is to create a real estate investment vehicle to obtain returns of between 4% and 5%, “resulting from rental contracts with a net triple income profile over the long-term”.
Original story: Eje Prime
Translation: Carmel Drake