Transaction / Assets Seller Buyer € MM
Quonia Buys Mixed-Use Property In La Barceloneta For €7M
31 March 2017 – Eje Prime
The Socimi party in Spain is still raging. As the undisputed stars of the real estate sector over the last two years, these companies are still fattening up their asset portfolios and valuations through acquisitions. Such is the case of the Catalan firm Quonia, which after acquiring a property in one of the best area of La Barceloneta in the Catalan capital, has increased its valuation by 12% to €72 million, according to the annual accounts filed by the company.
The most recent asset acquired by Quonia, a vehicle managed externally by Rusiton XXI, a specialist real estate fund manager with extensive financial experience, is a property at number 60 on Passeig Joan de Borbó, in La Barceloneta, one of the most touristic areas in the Catalan capital, for €7 million.
The property comprises three commercial premises on the ground floor, which are currently occupied by the classic restaurant Can Manel, which has now closed its doors and which is going to be occupied by the Degus group, in an operation brokered by the real estate consultancy firm Laborde Marcet, according to sources in the sector.
The building also contains six homes on the first and second floors, and a terrace on the third floor. The gross leasable area amounts to approximately 1,658 m2, split into tertiary use (815 m2) and residential use (843 m2) which, according to sources close to the operation, will soon be subjected to a comprehensive renovation.
Following this acquisition, Quonia’s portfolio now comprises six assets, located in Barcelona, Asturias and Sevilla. The Socimi debuted on the Alternative Investment Market (MAB) in July 2016 (…).
In terms of Quonia’s management team, the role of CEO is held by Enric Pérez Más, an executive who is closely linked to the investment business in Spain. The director has held senior management positions in groups such as AMCI, Habitat and Investmex, amongst others. The Socimi’s Board of Directors also comprises Alicia Solares, Ana Marías Saucedo, José Luis Llamas, Mayra Hernández and José Luis Rodríguez.
Original story: Eje Prime
Translation: Carmel Drake