30/07/2014 – Expansion
Hispania Activos Inmobiliarios, a Spanish REIT firm held by magnate George Soros, gained a net profit of €364.000 during the first half of the ongoing year, according to the information made public by the National Stock Exchange Market Commission (or the CNMV by its acronym in Spanish).
The group told the result is mostly due to the first returns proceeding from the new acquisitions: Hotel Guadalmina (Marbella) and Parque Diagonal Mar (Barcelona), as well as the income obtained from its cash management.
Socimi, as REITs listed in Spain are called, debuted on the Continuous Market on March 14th, raising €550 million at its IPO and later on appreciating by 4%.
The total investment by the firm reached €132.39 million at the end of June, representing 24.81% of its initially raised funds.
Original article: Expansión
Translation: AURA REE