Socimi Saint Croix’s Portfolio Worth €312M, Up By 16%

21 October 2015 – El Mundo

The portfolio of real estate assets owned by the Socimi Saint Croix Holding Inmobilier was worth €312.1 million at the end of September 2015, according to a statement issued by the company. That figure represents an appreciation of 16.4% with respect to the end of 2014, based on independent appraisal values.

In this way, the portfolio has generated latent profits amounting to €51.23 million, after adjusting for the investments and divestments made by the Socimi so far this year.

Saint Croix Holding Inmobilier closed the first nine months of the year with a profit of €12.84 million, an amount that represents almost five-times the figure recorded a year earlier, thanks to its asset purchases and an improved financial result.

Revenues increased by 31% between January and September, to reach €13.70 million, representing rental income from its hotels, offices and commercial spaces.

Meanwhile, EBITDA amounted to €12.10 million, which represented an increase of 41% with respect to 2014.

Original story: El Mundo

Translation: Carmel Drake