Vivenio, Millenium & Atom Invested €543M in New Purchases in 2019

9 January 2020 – Eje Prime

Vivenio and the hotel Socimis drove the MAB in 2019. The Socimi controlled by Renta Corporación, plus Millenium Hoteles and Atom Hoteles together invested €543 million in new acquisitions during 2019. That figure accounted for 71.2% of all the funds spent on asset purchases by the MAB’s Socimis during the year.

Specifically, Vivenio invested €234 million, including €75.5 million on some of the Operación Calderón plots; Millenium closed 3 operations amounting to €192.4 million, including the purchase of 2 buildings in central Madrid which it is going to convert into a 5-star hotel; and Atom Hoteles spent €116.6 million on 5 hotels in Madrid, A Coruña, Cádiz, Tenerife and Gran Canaria.

In total, all of the Socimis on the MAB spent €762.1 million on the purchase of assets during 2019, up by 34.1% compared to 2018.

Original story: Eje Prime (by Marc Vidal Ordeig)

Translation/Summary: Carmel Drake

Millenium to Undertake €400 Million in Capital Increases

3 January 2020 Shareholders of the hotel investment socimi Millenium have approved two new capital increases of up to 400 million euros. The socimi will undertake the increases within the coming year, according to a statement the socimi submitted to the Alternative Stock Market (MAB).

Los accionistas de la socimi de inversión hotelera Millennium han aprobado dos nuevos aumentos de capital de hasta 400 millones de euros. La socimi emprenderá los aumentos dentro del próximo año, según un comunicado que la socimi presentó al Mercado de Valores Alternativos (MAB).

Original Story: Eje Prime

Translation/Summary: Richard D. Turner

Euronext Access Vies With MAB for Socimis

11 December 2019 – Euronext Access is increasingly competing for listings of socimis with Spain’s Alternative Market (MAB). The stock exchange is comparable to the MAB in that it is aimed at companies with smaller capitalisations. Euronext, however, has the added benefit of lower costs and requirements.

Those benefits, together with Euronext’s pan-European reach (with a presence in Belgium, France, Ireland, the Netherlands, Portugal, Norway and the United Kingdom), are leading a growing number of socimis to opt for a listing in Paris instead of in Madrid.

Armabex, a specialist firm in placing socimis in the MAB, is currently working with ten firms looking to debut on the French stock market in 2020. The president of the firm predicts that 20 or 25 Spanish socimis will opt for a listing on Euronext next year. If that turns out to be true, it would be a major blow to the MAB.

Since 2013, ninety-one socimis have listed in Spain, and seven of those are already trading on Euronext Access.

Original Story: El Confidencial – Ruth Ugalde

Photo: Reuters

Adaptation/Translation: Richard D. K. Turner

Millenium Socimi to Undertake €250-Million Capital Increase

25 November 2019 – Millennium, a socimi that invests in the hospitality sector, plans to undertake a €250-million capital increase next year to expand its portfolio and subsequently move from Spain’s MAB to its larger. The socimi is looking to double its portfolio to one billion euros and make the move within the next two to three years.

Millenium also expects to take on debts of 250 million euros to achieve its goals.

Original Story: Eje Prime

Adaptation/Translation: Richard D. K. Turner

Domo to Give Up Socimi Status After Change in Spanish Rental Law

21 November 2019 – Domo will exit the socimi tax regime and, along with it, its business of developing rental housing due to changes in Spanish regulations. The country approved a law this year where rental agreements would be extended from three to five years, and up to seven years in cases where the owner is a corporate entity.

The firm argued that the change in the law would negatively affect its operations, as its strategy included selling the properties it built within four to six years. Domo added that the new regulations would impact its financing arrangements and decrease its potential profitability.

Nevertheless, Domo expects to maintain its listing on the MAB.

Original Story: La Vanguardia

Adaptation/Translation: Richard D. K. Turner

Advero Properties Receives Green Light for Stock Market Listing on Spain’s MAB

8 November 2019 – Advero Properties has been approved for its stock market debut by the Alternative Stock Market (MAB). The firm’s board of directors set an initial share price of 6.5 euros, valuing Advero at 10.6 million euros.

The firm will trade under ‘YADV’. Solventis is the registered advisor of the company and will also act as a liquidity provider.

Original Story: La Vanguardia

Adaptation/Translation: Richard D. K. Turner

Mistral Iberia Real Estate to Debut on MAB Valued at €22 Million

8 October 2019 Mistral Iberia Real Estate, a socimi partially controlled by the footballers Ronaldo Nazario, Fernando Llorente and Juan Manuel Mata, has been given the green light for a listing on the Alternative Stock Market (MAB), with an initial valuation of €22 million.

Mistral seeks diversification by investing in other existing socimis, specialising in an array of different assets.

The firm’s main partners include Ronaldo Nazario, with a 12.2% stake, Mata, with 11.2% and Llorente, with another 9.09%.

Original Story: El Confidencial – Ruth Ugalde

Photo: EFE

Adaptation/Translation: Richard D. K. Turner

Silicius Looks to List on Spain’s Continuous Market

18 September 2019 Silicius, the socimi controlled by Mazabi, is seeking to raise €1 billion in gross investments in preparation for its debut on Spain’s Continuous Market during the first semester of 2020. That market would provide a level of liquidity that is not present in the MAB. Silicius focuses its investments in the hotel and retail sectors.

Original Story: Merca2 – Carlos Lospitao

Adaptation/Translation: Richard D. K. Turner

Mansfield Invest to Debut on MAB Today

17 September 2019 – The socimi Mansfield Invest, which is controlled by Värde Partners and which has a 37.78% stake in the La Finca socimi, will debut on the Alternative Stock Market (MAB) on September 17 at 13 euros/share, valuing the company at 115.4 million euros. Mansfield, which invests in offices for lease, was incorporated on November 16, 2015.

Renta 4 Corporate is the Registered Adviser while Renta 4 Banco will act as Liquidity Provider.

Original Story: Inversión & Finanzas

Adaptation/Translation: Richard D. K. Turner

LaFinca Global Assets Given Green Light to Debut on MAB Stock Market

9 September 2019

LaFinca Global Assets, which is owned by Grupo La Finca and Värde Partners, was given the green light by the MAB for a new stock market listing. The firm has a portfolio of ten office buildings, all of them located in Madrid, the La Finca business park in Pozuelo de Alarcón, also Madrid, along with other facilities such as the Reebok sport club, an event-space and a below ground parking lot with 590 parking spots.

The company’s assets have a total value of €726.76 million with debts of €395 million, giving it a loan-to-value ratio of 54%. LaFinca set an initial share price of €4.66, based on an analysis by Gloval, giving it an upper value of more than €176 million.

Värde Partners has signalled a potential interest in selling its 39% stake in the socimi. In such an event, Grupo La Finca would have the preferential right to acquire the US fund’s stake.

Original Story: Expansión – Rocío Ruiz

Adaptation/Translation: Richard D. K. Turner