• Transaction / Assets
    Building on c/Antonio Salado (Sevilla)
  • Seller
  • Buyer
  • € MM

Quonia Acquires Building in Sevilla for €5.6M

18 June 2018 – Eje Prime

Quonia is gaining ground in the south of Spain. The Catalan Socimi has taken positions in Sevilla, where it already owns some assets, with the purchase of a building on Calle Antonio Salado. The acquisition price amounted to €5.6 million and includes the property and adjacent units at numbers 2, 6 and 12 Calle San Antonio, according to a statement filed by the company with the MAB.

In total, the operation involves a surface area of 3,541 m2, taking into account the property and the adjacent units. The building is currently vacant and is awaiting refurbishment, in which Quonia plans to invest €3.2 million before leasing it out.

The Socimi has financed the acquisition through a combination of own funds and debt. Quobia has obtained a mortgage loan from Banco Popular amounting to €4 million, with monthly repayments over a ten-year term and a capital repayment of 30% at the end of that period.

In February, Quonia obtained another loan from Banco Popular, in that case amounting to €1.5 million, to renovate the building that it owns at number 4 Calle San Vicente. That property has a surface area of 3,500 m2.

Led by Eduard Mercader since October last year, the Socimi has set itself the objective of liquidating its portfolio by 2025, whilst it continues to search for assets to keep buying. Quonia, whose assets are concentrated in Barcelona, completed a €26.5 million capital increase in January.

Original story: Eje Prime

Translation: Carmel Drake