Tag: La Barceloneta

Catalan Socimi Quonia’s RE Assets Worth €72M, Up By 31%

19 April 2017 – Eje Prime

The Catalan Socimi Quonia said goodbye to 2016 with a good set of results. According to a statement by the group, the Socimi has seen the value of its real estate assets rise by 31% over the last two years, to €72 million.

Quonia said that, according to an appraisal performed by the consultancy firm Ernst & Young, the net book value of its assets has increased by 31% during that period. The group, which debuted on the MAB in July last year, closed 2016 with net financial debt amounting to €22.3 million. This year, the company plans to continue growing, taking advantage of all of the mechanisms offered to it by the MAB to increase its property portfolio.

The most recent asset acquired by Quonia, a vehicle that is managed externally by Rusiton XXI, a manager that specialises in real estate investments and which has robust financial experience, was a property located at number 60 on Passeig Joan de Borbó, in La Barceloneta, one of the most touristic areas of the Catalan capital, for €7 million.

Following that acquisition, Quonia’s portfolio now comprises six assets, located in Barcelona, Asturias and Sevilla. According to Quonia’s annual report, the Socimi is now getting ready to acquire new assets. The group’s objective involves “identifying strategic assets that respond to the economic sectors highlighted in its geographic investment space”.

Original story: Eje Prime

Translation: Carmel Drake

Quonia Buys Mixed-Use Property In La Barceloneta For €7M

31 March 2017 – Eje Prime

The Socimi party in Spain is still raging. As the undisputed stars of the real estate sector over the last two years, these companies are still fattening up their asset portfolios and valuations through acquisitions. Such is the case of the Catalan firm Quonia, which after acquiring a property in one of the best area of La Barceloneta in the Catalan capital, has increased its valuation by 12% to €72 million, according to the annual accounts filed by the company.

The most recent asset acquired by Quonia, a vehicle managed externally by Rusiton XXI, a specialist real estate fund manager with extensive financial experience, is a property at number 60 on Passeig Joan de Borbó, in La Barceloneta, one of the most touristic areas in the Catalan capital, for €7 million.

The property comprises three commercial premises on the ground floor, which are currently occupied by the classic restaurant Can Manel, which has now closed its doors and which is going to be occupied by the Degus group, in an operation brokered by the real estate consultancy firm Laborde Marcet, according to sources in the sector.

The building also contains six homes on the first and second floors, and a terrace on the third floor. The gross leasable area amounts to approximately 1,658 m2, split into tertiary use (815 m2) and residential use (843 m2) which, according to sources close to the operation, will soon be subjected to a comprehensive renovation.

Following this acquisition, Quonia’s portfolio now comprises six assets, located in Barcelona, Asturias and Sevilla. The Socimi debuted on the Alternative Investment Market (MAB) in July 2016 (…).

In terms of Quonia’s management team, the role of CEO is held by Enric Pérez Más, an executive who is closely linked to the investment business in Spain. The director has held senior management positions in groups such as AMCI, Habitat and Investmex, amongst others. The Socimi’s Board of Directors also comprises Alicia Solares, Ana Marías Saucedo, José Luis Llamas, Mayra Hernández and José Luis Rodríguez.

Original story: Eje Prime

Translation: Carmel Drake