Trajano Iberia Goes Shopping For Offices, Retail & Logistics Assets
31 May 2017 – Eje Prime
Trajano Iberia, the Socimi managed by Deutsche Bank (…) is drafting a roadmap for its upcoming acquisitions, which will see it buy assets worth up to €100 million in Spain and Portugal, according to a statement issued by the Socimi. The company highlighted that it is looking for commercial properties, “primarily, offices, retail premises, shopping centres and logistics assets”.
Madrid and Barcelona will be in the spotlight of Trajano Iberia, which began to trade on the Alternative Investment Market (MAB) back in July 2015. The group has set itself the objective of spending “between €10 million and €100 million” on the acquisition of assets over the next few months.
The type of properties that Trajano Iberia wants to incorporate into its asset portfolio include: offices that need refurbishing or that are empty in prime and semi-prime areas of Barcelona and Madrid; prime offices and retail assets in Lisbon and Spain’s secondary cities; prime shopping centres in Spain’s secondary cities; and prime logistics centres located in the vicinity of transport hubs.
In this way, Trajano Iberia will be able to diversify its range of assets, given that until now, it has been more focused on buying large shopping centres in major cities in Spain and Portugal. One of the Socimi’s most recent purchases was the Alcalá Magna shopping centre, in Alcalá de Henares (Madrid), for which it paid Incus Capital €100 million. (…).
As at the end of 2016, the asset portfolio of the Socimi, chaired by José Moya Sanabria, was valued at more than €200 million and comprised four properties. The Socimi, which plans to increase its portfolio to more than €300 million before the end of the year, acquired its first property in October 2015 (…). A month later, in November, Trajano added the Nosso shopping centre, located in the Portuguese city of Vila Real to its collection of assets, for which it paid €54 million. Then in 2016, the Socimi acquired the Manoteras office building in Madrid, for €45 million. In the middle of last year, the group also bought the Plaza logistics park in Zaragoza, for €43.8 million.
Since its constitution in March 2015, Trajano Iberia has raised funds amounting to approximately €95 million. The administrators and managers of the company estimate a maximum investment period of 2 years (…).
Original story: Eje Prime (by C. Pareja)
Translation: Carmel Drake