Tag: AP67

AP67 Acquires Four Plots of Land in Madrid for €4.6 Million

9 October 2018

The socimi, which is listed on the MAB, is expanding its portfolio of assets in the area of Leganés, where it focuses most of its operations. The lands the socimi acquired have several possible uses, including industrial, commercial, offices and residential.

AP67 is continuing to pursue its strategy of investing in a good-sized portfolio of assets in Leganés. The socimi, which went public in May, just acquired four plots of land in the southern city of Leganés, part of greater Madrid. The total investment reached 4.6 million euros, according to the company’s announcement to the Mercado Alternativo Bursátil (MAB).

With this operation, the real estate manager, controlled by the architects Álvaro Rubio and Francisco Escudero, founders of the Akydeko studio, has added a variety of types of assets to its portfolio. In total, the plots of land have an area of ​​more than 8,500 square meters.

The largest plot of land is located at 7 Calle Rey Pastor de Leganés, where AP67 acquired a 4,899 square-meter plot of industrial land for 625,000 euros. In the Sector Partial Plan 4 of Leganés, the socimi paid 2.6 million euros for a 3,360-square-meter plot of land for commercial and office use.

Finally, on 40 and 48 Calle Juan Muñoz, Rubio and Escudero’s firm acquired two small plots measuring 400 square meters and 39 square meters, respectively. The socimi paid 1.3 million euros for the two.

The purchases were made with equity and a mortgage loan signed with Banca Pueyo for 1.34 million euros. “With these acquisitions, the company continues to meet its investment objectives and expand its portfolio of assets,” the socimi announced. AP67, which debuted on the MAB valued at 34 million euros, aims to double the number of assets it currently has in the next few years.

Original Story: EjePrime

Translation: Richard Turner

Socimi AP67 Debuts on the MAB with Aim of Doubling its Portfolio

8 May 2018 – Eje Prime

AP67 rang the bell on the Alternative Investment Market (MAB) for the first time this morning. The Socimi debuted on the stock market with a preliminary share price of €6.65, which corresponds to an overall company valuation of €34 million. The aim of the company is to double its portfolio over the next few years through the purchase of new assets.

The real estate investment company is the sixth Socimi to make its debut on the MAB so far this year, which further strengthens the presence of this type of player in the Spanish real estate sector. In the case of AP67, the company has debuted with a portfolio worth €46.5 million comprising assets of all kinds located in Leganés (Madrid).

Gesvalt has acted as the external advisor to the operation, whilst Armabex has worked as the registered advisor for the stock market debut of the company, which is owned by Álvaro Rubio Garzón and Francisco Escudero López.

The Socimi owns small- and medium-sized plots of urban land for residential use, as well as commercial premises, parking lots and industrial land. In addition to the new purchases that it plans to make, the company aspires to “continue to generate returns of more than 8%”, according to its president, Álvaro Rubio.

Original story: Eje Prime

Translation: Carmel Drake

Socimi Lists its €46-Million Portfolio of Homes and Land in Madrid

27 April 2018

The countdown has started for Spain’s stock exchange to become home to a new real estate investment company listing. AP67 has received the approval to start trading on the Mercado Alternativo Bursátil (MAB).

Although the exact date of the listing is still unknown, the socimi will debut at a price of 6.65 euros per share and a market value of about 34 million euros.

The vehicle is specialised in the residential sector and has residential buildings, one residential plot of land, two industrial plots of land and several commercial premises. All the assets are located in the municipality of Leganés (Madrid) and have a market value of €46.5 million, according to calculations by the appraiser Gesvalt.

The two most valuable assets in its portfolio are a residential building and a housing development that is currently under construction: between them, they total 25.8 million euros, more than half of the total.

There are several major shareholders behind the vehicle: the minority interests that the MAB requires for a listing, as well as the architects Álvaro Rubio Garzón and Francisco Escudero López, who control more than 90% of the capital. According to the document published by the MAB, both created a property management company in 2001, based on real estate development for rental in the area of Leganés, “specifically in the main streets of the urban centre, in locations near the Universidad Carlos III and industrial property in the suburbs.”

AP67 will be added to the fifty-one socimis that are already present in the MAB and to the sector’s main players, which are on the Ibex 35 and the continuous market: Merlin Properties, Colonial, Axiare, Hispania and Lar. In its debut, the company will be advised by the registered adviser Armabex. The Renta 4 bank will act as a liquidity provider.

Original Story: Idealista

Photo: Gtres

Translation: Richard Turner