Tarjar Xairo Socimi Will Debut On The MAB On 20 Feb

15 February 2017 – Europa Press

The Socimi Tarjar Xairo will start trading on the Alternative Investment Market (MAB) on Monday 20 February, after the index’s Coordination and Incorporation Committee sent a favourable report about the Socimi to the MAB’s Board of Directors yesterday.

In this way, following the corresponding approval by the MAB’s Board of Directors, Tarjar Xairo Socimi will become the thirtieth real estate investment company to join the market and it will do so with the trading code ‘YTAR’.

It shares will be debuted through a price-fixing system and Renta 4 Corporate will act as the registered advisor, whilst Renta 4 Banco will serve as the liquidity provider.

The Socimi’s Board of Directors has set a reference value of €53.12 per share, which represents a total market capitalisation of around €9.2 million.

Tarjar Xairo Socimi is the owner of a portfolio of properties comprising four industrial buildings, two of which are located on an industrial estate in Coslada (Madrid), one industrial warehouse in Torrejón de Ardoz (Madrid) and one industrial warehouse in Ribarroja del Turia (Valencia).

As at 30 June 2016, the company recorded a profit of €118,710 and revenues of €377,509.

Original story: Europa Press

Translation: Carmel Drake

‘La Mutualidad de la Abogacía’ To Auction Off 2 Buildings

17 September 2015 – Expansión

La Mutualidad de la Abogacía has decided to cash in two of the buildings that form part of its real estate portfolio. The lawyers’ insurance company has put two buildings up for sale in Madrid and Barcelona, one residential property and one office complex.

The assets are located on Calle General Moscardó in Madrid and Ronda General Mitre in Barcelona. The Madrilenian property has a surface area of 1,836 m2 and the Barcelona building has a surface area of 1,560 m2.

Neither of the buildings is currently being used, but both could house offices or homes. La Mutualidad has engaged the real estate consultancy BNP Paribas Real Estate to manage the sale, which will be marketed through an auction. The combined market price of both properties is expected to exceed €6 million.

La Mutualidad de la Abogacía’s real estate portfolio comprises 42 assets, of which more than half are offices and 25% are hotels; the remainder includes commercial premises, nursing homes, industrial buildings and car parks.

The portfolio has a net cost of more than €463 million, and a current appraisal value of €568.6 million.

Original story: Expansión (by R.R.)

Translation: Carmel Drake