Cevasa Earns €2.3M During Q1 2020, Down by 3.7%, but its Business Grows

The rental company generated revenues of more than €4.8 million in the first three months of 2020, which represents an increase of 3.7%.

The Spanish Rental Housing Company (Cevasa) has closed the first quarter of the year with earnings of more than €2.3 million, down by 3.7% compared to the first three months of 2019, according to information published by the company through the National Securities Market Commission (CNMV).

However, Cevasa generated revenues of more than €4.8 million in the first quarter of 2020, which represents an increase of 3.7% compared to the same period a year earlier.

Cevasa Tripled its Profits YoY to €46.6M in 2018

28 February 2019 – Eje Prime

Cevasa’s profits soared in 2018. The company closed last year with a net profit of €46.6 million, multiplying its result from the previous year three-fold when it amounted to €15.5 million. In terms of revenues, they remained stable, with a slight increase of 8.4% to reach €15.8 million by December 2018.

The company’s operating result amounted to €61 million at the end of last year, an exponential increase with respect to the previous year, when it amounted to €17.5 million.

The company, whose full name is Compañía Española de Viviendas en Alquiler (the Spanish Company for Rental Housing) is dedicated to the private development of social housing units for rental. It currently has thirty housing developments underway, located primarily in Barcelona and the surrounding area.

Original story: Eje Prime

Translation: Carmel Drake

Town Hall of Barcelona Looks for Private Partners to Promote Social Housing

30 January 2019 – Eje Prime

The Administration is looking for a private property developer. The Metropolitán Area of Barcelona (AMB) has opened a process to choose a partner for the public company Habitatge Metròpolis Barcelona, which is planning to build social housing in the city and its metropolitan area.

The entry of a new shareholder will be carried out through a capital increase whereby €12 million will be contributed, according to Expansión. Cevasa, Visoren, Neinor and Sogeviso are some of the interested companies. Meanwhile, the company’s existing shareholders will subscribe another €12 million capital increase in equal parts.

The bidding process will be open for two months. The objective is to raise capital, but also to increase awareness about the development and the management capacity of the stock of rental homes.

The objective involves constructing a stock of social housing properties comprising 4,500 units over the next ten years. The AMB will contribute two estates in Sant Boi de Llobregat and Montgat, and the Town Hall of Barcelona will contribute €6 million.

Original story: Eje Prime

Translation: Carmel Drake

Cevasa Sells an Estate in Madrid, Buys 20% More of SBD Lloguer Social

8/01/2015 – Inmodiario

Spanish rental property company Companía Española de Viviendas en Alquiler S. A., abbreviated to Cevasa, has sold a real estate complex called Santa María de Cabeza, Madrid, to AKM Arganzuela for 35 million euros. The deal included 214 dwelling, 31 retail units and their corresponding parking spaces.

As a result of the sale, Cevasa is going to close the year 2014 with an extraordinary profit of 23 million, once the sold assets’ book value (€8.1 million), as well as taxes and transfer cost deducted.

Besides, Cevasa has purchased a 20% share in Sociedad SBD Lloguer Social, S. A. from Habitatges Municipals de Sabadell, S. A. (VIMUSA). Currently, Cevasa’s share adds up to 80%, demonstrating the company’s commitment to cooperation with the Local Administration on development of properties intended for long-term rents at affordable prices.

Picture: One of Cevasa’s housing developments, www.cevasa.com

Original story: Inmodiario (by the Staff)

Translation: AURA REE