Torimbia to Debut on MAB at €27.40 Per Share

20 July 2019 – Richard D. K. Turner

The socimi Torimbia will debut on Madrid’s alternative stock market (MAB) after receiving the necessary approvals from the MAB’s board of directors. The company will trade under ‘YTRM’, with Renta 4 Corporate listed as the registered advisor and Renta 4 Banco as Liquidity Provider. The listing would set the firm’s shares at 27.40 euros, giving the socimi a total value of 140 million euros.

Torimbia, which incorporated in 1966, controls and operates eight real estate assets including three hotels, three commercial premises and two offices in Madrid, with a total gross leasable area of ​​34,620 square meters.

Original Story: Valencia Plaza

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

Socimi Tander Inversiones Debuts on the MAB

12 January 2018 – Expansión

The listed real estate investment company (Socimi) Tander Inversiones has debuted on the Alternative Investment Market (MAB) with no change to its initial price, which was fixed at €9.50 per share.

Tander Inversiones, which is trading under the code “YTAN”, was listed through the fixing contracting system, which sets prices twice a day, in such a way that the next variation will be published at 16:00.

The starting price of €9.50 per share, which had been established by the Socimi’s Board of Directors, represents a company valuation of €49.8 million.

Renta 4 Corporate served as the registered advisor, whilst Renta 4 Banco was the liquidity provider.

Tander Inversiones Socimi is a company dedicated to investment in properties, primarily retail premises allocated for rent.

The Socimi owns a portfolio of assets comprising five retail premises in Barcelona and another one in Santander.

Original story: Expansión 

Translation: Carmel Drake

MAB Approves Stock Market Debut Of Socimi Numulae

19 July 2017 – TeleCinco

The Alternative Investment Market (MAB)’s Coordination and Incorporations Committee has sent a favourable evaluation report to the MAB’s Board of Directors regarding the Socimi Numulae’s compliance with the joining requirements after it had evaluated all of the documentation submitted.

The company’s debut will require prior approval by the MAB’s Board of Directors. The company’s trading code will be YNUM and its shares will be traded through the price fixing system.

Renta 4 Corporate is the registered advisor and Renta 4 Banco is the liquidity provider.

The company’s Board of Directors has set a reference value of €1.90 for each one of its shares, which represents a total company valuation of €10.4 million. Numulae is a real estate investment company, which aims to provide its investors with returns from rental income and capital appreciation based on the selective acquisition and active management of real estate properties in Spain.

Between 10 and 15 new Socimis will debut in H2

Renta 4 Banco predicts that between 10 and 15 additional Socimis will make their debuts on the MAB between July and December, which means that the entity expects there to be between 45 and 50 companies of this kind trading on the stock market by the end of the year (…).

One of the companies that is expected to make its debut is Sareb’s Socimi, Témpore Properties, which has engaged Renta 4 Banco as its global advisor for its stock market debut, which is scheduled to happen before the end of the year. Currently, only two listed real estate investment companies (Socimis), Merlin and Colonial, trade on the Ibex 35, the most prestigious index in Spain.

Original story: TeleCinco

Translation: Carmel Drake

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

GreenOak’s Socimi, Gore Spain Holdings, Debuts On The MAB

18 January 2017 – Expansión

The company Gore Spain Holdings Socimi will debut on the Alternative Investment Market (MAB) on Thursday (19 January), after the MAB’s Board of Directors approved its incorporation into the Socimi segment, having analysed the information presented by the company and after the Coordination and Incorporation Committee issued a favourable assessment report.

On the basis of the share valuation report prepared by the independent expert CBRE Valuation Advisory, the company’s Board of Directors has set a reference value of €14.58 for its shares, which represents a total market capitalisation of €144 million.

Gore Spain Holdings Socimi will be the twenty-ninth Socimi to join the MAB. The company’s trading code will be “YGRE” and its shares will be traded through a price fixing system.

According to a statement by the Spanish Stock Exchange (BME), Renta 4 Corporate is the Registered Advisor for the operation and Renta 4 Banco is the Liquidity Provider.

Gore Spain Holdings Socimi is the parent company of a group that comprises 18 fully owned subsidiaries, of which 17 have opted to operate under the Socimi structure, designed for the acquisition and rental of properties in Spain. The group currently owns 20 assets and has a single shareholder, GreenOak Spain Investment.

Original story: Expansión

Translation: Carmel Drake

Socimi Vbare Will Debut On The MAB On 23 Dec

21 December 2016 – Finanzas.com

The Socimi Vbare Iberian Properties is set to join the Socimi segment of the Alternative Investment Market (MAB) and will start trading on Friday, 23 December.

The decision was taken by the MAB’s Board of Directors, which approved the incorporation of the company into the Socimi segment on Tuesday, after analysing the information submitted by the company and following the issuance of a favourable evaluation report from the Coordination and Incorporation Committee.

On the basis of a valuation report prepared by Grant Thornton, Vbare’s Board of Directors has set a reference value of €12.90 for each one of its shares, whereby valuing the company at €20.6 million.

The trading code of the company, the twenty-eighth Socimi to join the MAB, will be ‘YVBA’ and it will debut through a price fixing system. Renta 4 Corporate is the registered advisor and Renta 4 Banco is the liquidity provider.

The Socimi specialises in residential rental properties and its strategy focuses on the acquisition of real estate assets, their renovation and subsequent rental. It currently owns 183 real estate assets located in Madrid.

Original story: Finanzas.com

Translation: Carmel Drake