22 May 2018 – Eje Prime
Mazabi’s Socimi is growing its real estate portfolio. Silicius has purchased an office building in Madrid worth €20 million. The asset, located in the prime Salamanca neighbourhood, has a surface area of 2,350 m2 and has just been renovated.
The property was acquired by Mazabi in 2014 and, following the refurbishment, that same family office’s Socimi has won the auction for the building, in which several international funds and a Spanish insurance company participated, according to Idealista.
Similarly, the Spanish manager is working to undertake new investments over the next few months, ahead of its stock market debut, which is scheduled for later this year. The only question remaining is whether it will trade on the MAB or the main stock exchange. The real estate company is currently working on purchase operations amounting to almost €500 million.
Mazabi’s vehicle wants to reach an investment volume of €300 million before it rings the bell (makes its stock market debut) and opens up its share capital to new shareholders. They will boost its development in the Spanish market, where it owns a portfolio worth €120 million comprising commercial premises and offices in Madrid, as well as a hotel in Cádiz.
Original story: Eje Prime
Translation: Carmel Drake