Barcino Acquires Apartment Building in Barcelona for €4.2 Million

18 December 2019 – The socimi Barcino has acquired an 11-flat apartment building in the centre of Barcelona for 4.2 million euros. The socimi paid 20% of the price using equity, partially guaranteeing the rest of the payments with a mortgage loan on the property.

Original Story: Eje Prime

Adaptation/Translation: Richard D. K. Turner

Barcino Purchases a Property in Barcelona for €2.4M

4 December 2018 – Eje Prime

Barcino is going shopping in the Catalan capital. The Socimi, which made its debut on the stock market in December, has acquired an asset comprising nine homes and one office, located at number 105 Calle Hospital in Barcelona. The operation has been closed for almost €2.4 million, according to a statement filed by the company with the Alternative Investment Market (MAB).

The company has financed the purchase using funds obtained from the capital increase that it carried out in September, amounting to €9.7 million. In addition, the occupancy rate of the asset amounts to 89%, according to a statement filed by the group with the stock market regulator.

Barcino is in the process of growing its residential portfolio. Its most recent acquisition was at the beginning of October when it purchased a property in the Catalan capital for €2.8 million. In May, the company invested €2 million in the purchase of around twenty assets, also in Barcelona, the city where it centres all of its operations. Most of its buildings are rental homes, but it also owns offices buildings and commercial premises, located throughout the metropolitan area of the Catalan capital.

Before the end of 2017, the Socimi disbursed €1.6 million to acquire a residential building on Calle Girona. The company’s Board of Directors comprises Mateu Turró, in the role of President, and Francesc Ventura and Ralph Weichelt, as directors. Barcino was valued at €19.1 million when it made its debut on the MAB.

Specialising in real estate investment and management, the Socimi is controlled (50.01%) by Barcino Management and managed by a company linked to the firm Vistalegre Property Management.

Original story: Eje Prime

Translation: Carmel Drake

MAB’s Director Encourages Socimis to Generate Trust to Attract Investment

30 October 2018 – Finanzas

The Director General of the Alternative Investment Market (MAB), Jesús González Nieto (pictured below), has today encouraged the Socimis to “generate trust” through the transparency of their corporate governance arrangements to attract new investors and “to depend on the market for growth”.

González Nieto closed a conference about Socimis at the headquarters of the CEOE by underlining that generating trust is a task for everyone so that the real estate investment formula, which has been on the Spanish stock market for five years, can become increasingly well known.

In his opinion, the French and British markets have many more small investors in the real estate sector thanks to the structures that they have, which are similar to Socimis, and so he expects growth in the Spanish market if the entities can manage to provide good information about that possibility of stock market investment.

At the moment, 61 Socimis are trading on the MAB, whilst another five trade on the main stock market.

The Director General of Renta 4 Banco, Jesús Sánchez-Quiñones, has inaugurated a process for the concentration of Socimis over the coming years and has said that “they are avoiding stock market crashes”, due to their strong expectations and lower liquidity.

Representatives from eleven Socimis participated in the conference, ten on behalf of Socimis that are trading on the MAB and one that will make its debut soon: Park Rose Iberoamericana, which will start trading on 15 December.

The President of Park Rose, Luis Alberto Akel, explained that his firm has Chilean capital and is diversifying its real estate investments in Chile, the USA and Spain.

The CEO of Témpore, Nicolás Díaz Saldaña, warned that “there is a lot of international interest in the Spanish residential sector”, and, after reminding the audience that his Socimi arose as an “additional mechanism for the divestment of assets by Sareb”, he said that when that operation concludes, they will go “and look for new investors”.

Díaz Saldaña has indicated that he would like for Témpore to be listed on the main stock market and the Director General of GMP Property, José Luis García de la Calle, also noted that his firm has considered that option, but that the growing “demands” of the MAB are already broad enough, without having to implement audit and remuneration committees.

Meanwhile, the CEO of Castellana Properties, Alfonso Brunet said, “We are getting ready to comply with the requirements of the main stock market”.

The CEO of Vitruvio, Joaquín López-Chicheri, highlighted that “the Socimis allow us to diversify risk” and to be present in the four segments (residential, commercial, offices and logistics), whilst other participants in the conference indicated that they prefer to focus on a niche market.

In this way, José Nistal, from the Socimi Almagro, explained its specialisation in the purchase and rental of flats for the elderly, where the tenants have an average age of 84.3 years.

The latest Socimi to join the MAB, Azaria, in September, focuses exclusively on the long-term, stable, rental of offices and its only asset, for the time being, is the headquarters of El Páis, which is leased until 2033, explained its manager, Teodoro Díez.

Sergi Mirapeix, from Tander, explained that his firm only invests in commercial premises in the most central areas of cities (currently, it is present in four: Barcelona, Santander, Bilbao and San Sebastián) and Jorge González, the representative of the Socimi Asturias, has indicated that its sole objective is to focus on large retail parks.

Josep Turró, from Barcino, said that his firm is going to seek to diversify as much as possible, by “adaptating to demand”, and Fabrizio Agrimi, from Vbare Iberian, said that his Socimi is committed to “added value, without property developer risk”.

Original story: Finanzas 

Translation: Carmel Drake

Barcino Purchases a Mixed-Use Property in Barcelona for €2.8M

7 October 2018 – Eje Prime

Barcino is fattening up its portfolio of residential assets. The Socimi has acquired a residential property in Barcelona for €2.8 million, according to a statement filed with the Alternative Investment Market (MAB). The operation has been financed using a capital increase amounting to more than €9.7 million, which the company undertook at the beginning of September.

Barcino has purchased the property at number 57 Calle Joaquín Costa, in the Raval neighbourhood of the Catalan capital. The building comprises nine homes and two commercial premises in total. The current occupancy ratio of the asset amounts to 45%.

Barcino, which made its debut on the stock market at the end of 2017, defines itself as a company whose main activity involves the “acquisition and renovation of urban assets for their rental”. The company invests primarily in central locations in the metropolitan area of Barcelona and is controlled (50%) by the Dutch fund Barcino Management.

One of the Socimi’s most recent operations, completed in the month of September, was the acquisition of two residential buildings in Barcelona for €3.9 million in total: one of the properties comprises fourteen homes and one commercial premise in the Poble Sec neighbourhood, whilst the other comprises twelve homes and is located in the heart of the Raval neighbourhood.

Original story: Eje Prime

Translation: Carmel Drake

Barcino Completes a €9.7M Capital Increase

6 September 2018 – Eje Prime

Barcino is financing the expansion of its residential portfolio. The Socimi has completed its latest capital increase amounting to more than €9,761,033, through the subscription of 6,731,747 new shares. The operation has been conducted in two tranches, one for 3.9 million shares and the other for 2.8 million shares, according to a statement filed by the company with the Alternative Investment Market (MAB).

The Socimi, which has been listed on the MAB since last December, is in the middle of growing its residential portfolio. In May, it invested €2 million in the purchase of twenty assets in Barcelona, the city that represents the focus for all of its operations. Most of its buildings are rental homes, but it also owns offices and retail premises located all over the Catalan capital’s metropolitan area.

Before the end of 2017, the Socimi spent €1.6 million on a residential building on Calle Girona. The company’s Board of Directors comprises Mateu Turró, in the role of President, and two directors, Francesc Ventura and Ralph Weichelt.

In its debut on the MAB, Barcino was valued at €19.1 million. Specialising in investment and real estate management, the Socimi is controlled 50.01% by Barcino Management and managed by the company linked to the firm Vistalegre Property Management.

Original story: Eje Prime

Translation: Carmel Drake

Barcino Increases its Share Capital by €10M

25 June 2018 – Eje Prime

Barcino is injecting cash into its Socimi to continue its progress in the Spanish real estate sector. The manager has increased the entity’s share capital by €10.3 million through the issue and launch into circulation of the same amount of shares with a nominal value of €1 each, according to a statement filed by the company with the Alternative Investment Market (MAB).

The Socimi, which has been listed on the MAB since December, is in the middle of growing its residential portfolio. A month ago, the company invested €2 million in the purchase of around twenty assets in Barcelona, the city in which it has focused all of its operations. Most of its buildings are rental homes, although the manager also owns office properties and commercial premises spread over the metropolitan area of the Catalan capital.

Previously, two days before the end of 2017, the Socimi spent €1.6 million on a residential building on Calle Girona. The company’s Board of Directors comprises Mateu Turró, as the President of the company, and Francesc Ventura and Ralph Weichelt, who both serve as members.

At its stock market debut, Barcino was worth €19.1 million. Specialising in real estate investment and management, the Socimi is controlled (50.01%) by Barcino Management and is managed by a company linked to Vistalegre Property Management.

Original story: Eje Prime (by J. Izquierdo)

Translation: Carmel Drake

Barcino Acquires c. 20 Assets in Barcelona for €2.15M

16 May 2018 – Eje Prime

The Socimis are continuing to party in Spain. Although the experts said that 2018 would be a year for portfolio management, the fact is that many of these companies are continuing to add new assets to their portfolios. The latest is Barcino Properties, which is continuing to specialise in the residential sector with the purchase of a package of 20 assets in Barcelona for more than €2 million, according to a statement issued by the group.

Barcino, which signed the purchased deed on 14 May, has acquired the property at number 18 Calle Olivera for €2.15 million. The asset comprises two commercial premises and 14 homes, and the current occupancy rate stands at 79%. To finance this purchase, the company has signed a mortgage loan with Bankinter for €1 million.

The Socimi debuted on the MAB last December with a share price of €1.33 and a market value of €19.1 million. Specialising in real estate investment and management, the Catalan entity has eight properties in its portfolio, all of which are located in the Barcelona metropolitan area. Most of its assets are rental homes, although it also owns some office buildings and commercial premises. Currently, the Socimi is controlled by Barcino Management (50.01%) and managed by a related party company Vistalegre Property Management.

The company’s most recent purchases include a residential building in Barcelona, which it bought just 48 hours after making its stock market debut. In that case, the company executed a €1.2 million purchase option that it had signed over the property, located at number 92 Calle Girona, after paying €493,000 euros in November for the rights to acquire the asset.

That building contains two commercial premises and seven homes in total, all of which are currently occupied. For the operation, the company made use of its own available funds, without having to resort to additional leverage.

Created in 2015 

Barcino defines itself as a company whose main activity is the “acquisition and renovation of urban assets for their subsequent rental”. The company primarily invests in central locations in the Barcelona metropolitan area. In terms of the characteristics of its desirable assets, the company must be able to purchase the entire building and subject it to a comprehensive renovation.

The group was constituted in January 2015 and since February 2016 it has been registered as a Socimi. The company is chaired by Mateu Turró, who is also an honorary director of the European Investment Bank (EIB), where he worked from 1988 until 2009 (…).

Turró is accompanied in the management of Barcino by Francesc Ventura, an architect who has held roles as director and secretary of the management board and executive committee of APCE (Association of Property Developers of Barcelona) and as CEO of La Caixa de Pensions de Barcelona.

Moreover, the company is also led by Ralph Weichelt, Investment Director at Triple Point Social Housing, a public company listed on the main London Stock Exchange, which operates in the social housing sector in the United Kingdom. The executive has also served as the director of several companies including BNP Paribas Real Estate and JLL.

Original story: Eje Prime (by C. Pareja)

Translation: Carmel Drake

Barcino Buys Building in Barcelona for €1.6M

29 December 2017 – Eje Prime

Barcino is already going on shopping sprees as a listed company. Just 48 hours after making its debut on the Alternative Investment Market (MAB), the Catalan Socimi has purchased a building in the centre of Barcelona for €1.6 million.

The company, which specialises in the management of rental homes, has executed a purchase option, amounting to €1,227,000, which it signed over this property located at number 92 Calle Girona in November, after paying €493,000 for the transfer of the rights to acquire the asset, according to a statement made by the Socimi to the MAB.

The building comprises two commercial premises and seven homes in total, all of which are currently occupied. For the operation, the company has made use of its available own funds, without having to resort to additional financing.

Barcino, whose assets are concentrated in the Metropolitan area of Barcelona, made its debut on the stock market last Wednesday with a share price of €1.33 and a portfolio value of €19.1 million.

Original story: Eje Prime

Translation: Carmel Drake

Barcino Property: the MAB’s 46th Socimi Will Make its Debut on 27 Dec

21 December 2017 – Eje Prime

The Alternative Investment Market will close 2017 by welcoming two new Socimis on 27 December, including the Catalan manager Barcino.

Barcino Property, together with Student Properties, will close a year of almost non-stop debuts on the Alternative Investment Market (MAB). The stock market of choice for most of Spain’s Socimis will welcome the Catalan manager on 27 December. With a share price of €1.33, the 46th company to join the MAB will debut with a company valuation of €19.1 million.

Specialising in real estate investment and management, the Catalan company holds eight properties in its portfolio, all located in the metropolitan area of Barcelona. Most of its assets are rental homes, although it does also own some office buildings and retail premises.

Currently, the Socimi is controlled (50.01%) by Barcino Management and managed by the company linked to the firm Vistalegre Property Management.

Original story: Eje Prime

Translation: Carmel Drake