Catalan Socimi Quonia’s RE Assets Worth €72M, Up By 31%

19 April 2017 – Eje Prime

The Catalan Socimi Quonia said goodbye to 2016 with a good set of results. According to a statement by the group, the Socimi has seen the value of its real estate assets rise by 31% over the last two years, to €72 million.

Quonia said that, according to an appraisal performed by the consultancy firm Ernst & Young, the net book value of its assets has increased by 31% during that period. The group, which debuted on the MAB in July last year, closed 2016 with net financial debt amounting to €22.3 million. This year, the company plans to continue growing, taking advantage of all of the mechanisms offered to it by the MAB to increase its property portfolio.

The most recent asset acquired by Quonia, a vehicle that is managed externally by Rusiton XXI, a manager that specialises in real estate investments and which has robust financial experience, was a property located at number 60 on Passeig Joan de Borbó, in La Barceloneta, one of the most touristic areas of the Catalan capital, for €7 million.

Following that acquisition, Quonia’s portfolio now comprises six assets, located in Barcelona, Asturias and Sevilla. According to Quonia’s annual report, the Socimi is now getting ready to acquire new assets. The group’s objective involves “identifying strategic assets that respond to the economic sectors highlighted in its geographic investment space”.

Original story: Eje Prime

Translation: Carmel Drake

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