55
55

Property Sector Absorbs 80% of Funds Raised at IPOs

20/10/2014 – Expansion

Freshly listed Real Estate Investment Trusts, known as Socimis in Spain, have invested 80% of their Initial Public Offering funds in property market.

Merlin Properties, Lar Real Estate, Hispania (not a REIT actually but it operates on very similar basis) or Axia Real Estate, all have jointly raised more than €2.5 billion at their flotations earlier this year.

The first has been the most active in terms of investment as it has already spent €1.25 billion on real estate assets, representing 97% of the total of €1.29 billion raised while going public.

 

Original article: Expansión

Translation: AURA REE