31 July 2015 – El Economista
Hispania, the socimi controlled by the fund manager Azora Hispania Activos Inmobiliarios obtained a profit of €10.7 million during the first half of the year, which represented a 29-fold increase compared with the same period in 2014 (€0.4 million).
In H1 2015, Hispania, which began operations in March 2014 following its IPO, recorded turnover of €13 million, whereby multiplying its revenues in H1 2014 (€0.6 million) by 22, according to information submitted to Spain’s National Securities Market Commission (CNMV) yesterday.
Since its debut on the stock market, Hispania has invested in 32 assets, which have a consolidated gross value of €710 million.
During the second quarter of 2015 alone, the socimi acquired four assets – two hotels and two offices – and signed an agreement with Grupo Barceló to create the first hotel socimi.
During the first half of the year, Hispania also obtained additional financing of €70.1 million, taking its financial debt to €195.2 million.
Original story: El Economista
Translation: Carmel Drake