PSN Gestión Socimi Will Debut on the MAB on 22 Dec

20 December 2017 – La Vanguardia

The Board of Directors of the Alternative Investment Market (MAB) has approved the incorporation of the company ‘PSN Gestión Socimi’ into the Socimi segment. It represents the forty-fourth company (of this kind) to join the exchange. Its shares will start trading on Friday 22 December.

The incorporation of the company, which specialises in property investment, comes after the Board’s analysis of the information submitted by the company and after the Coordination and Incorporations Committee issued a favourable assessment report, according to sources at the MAB.

The company’s trading code will be “YPSN”. The registered advisor isVGM Advisory Partners, and Banco Sabadell will act as the Liquidity Provider.

The Company’s Board of Directors has established a reference value for each share of €14.20, which corresponds to a company valuation of €28.1 million in total.

PSN Gestión Socimi is a real estate company, dedicated to property investment, primarily focusing on offices and retail premises to let.

The company owns a portfolio of assets comprising one entire building, dedicated to hotel use, as well as several offices distributed across 27 buildings in 21 cities in Spain and Portugal.

Original story: La Vanguardia

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

Colón Viviendas Socimi Will Debut On MAB With Value Of €19M

15 June 2017 – Invertia

The MAB’s Coordination and Incorporations Committee has submitted a favourable report to the Board of Directors regarding the debut of Colón Viviendas on the stock market, after analysing the documentation presented by the company, according to a statement issued yesterday by the Spanish Stock Exchanges and Markets (BME).

If it receives the green light from the MAB’s Board of Directors, Colón Viviendas will become the thirty-fourth Socimi to debut on this market.

The company’s trading code will be “YCOL” and its shares will be traded through the “fixing” system, which fixes their price twice a day.

Taking into consideration the valuation report prepared by the independent expert CBRE Valuation Advisory, Colón Vivienda’s Board of Directors has set a reference value for its shares of €2.13, which represents a company market valuation of €19 million.

Armabex is the Socimi’s registered advisor and BNP Paribas España is acting as the liquidity provider.

Colón Viviendas Socimi is a real estate company dedicated to investing in residential rental assets and it is managed by Azora Gestión SCIIC.

Original story: Invertia

Translation: Carmel Drake

Socimi Optimum III Will Debut On Stock Market On 16 May

11 May 2017 – Expansión

A new listed real estate investment company (Socimi) will debut on the Spanish stock market next week. The company in question is Optimum III, specialising in value-added residential assets (i.e. those requiring active management to maximise their value).

The company will debut on the MAB with a reference value of €10 per share, taking the total valuation of the company to €54.03 million. The bell will ring on 16 May.

The new Socimi is the thirty-third to debut on the MAB (four others are listed on the main stock market). Its portfolio comprises six buildings, five in Barcelona and one in Madrid, all acquired within the last three months. The properties include Diagonal 333, in Barcelona, purchased in January for €12.8 million; and General Moscardó 7, in Madrid, bought in February for €14.86 million.

The Socimi’s most recent purchase involved the building on Juan de Garay 5-7, in Barcelona, which it acquired for €1.7 million on 13 April.

The company is managed by BMB, as disclosed by Expansión. That company, which is headquartered in Barcelona, has accumulated eight funds since it was founded in 2006. The firm led by Josep Borrel also manages another Socimi that is already listed on the stock market, Optimum Real Estate.

Optimum III’s main shareholder is the American investment fund Bluemountain, which owns 83.287% of its share capital. The firm Itzarri EPSV holds another 9.2541% stake, whilst another 15 shareholders own less than 5% each.

The new Socimi has set itself an investment period of 12 months, beginning on 1 March, and the aim of liquidating its assets no later than the seven years after its debut on the stock market.

Its investment target comprises value-added assets, ranging between €2 million and €20 million per property, with an average price of around €2,500/m2. Including construction work, the investment undertaken by Optimum Re Spain will reach a total of €80 million between own funds and debt.

Arcano Valores has been the placer and registered advisor to Optimum III, which will trade under the code YOVA, whilst BNP Paribas is acting as the liquidity provider.

Original story: Expansión (by Rocío Ruiz and José Orihuel)

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

Optimum Re Will Debut On The MAB On 28 September

27 September 2016 – Expansión

The Socimi Optimum Re will debut on the Alternative Investment Market (MAB) on Wednesday 28 September, after the Coordination and Incorporations Committee submitted a favourable assessment report to its Board of Directors regarding the company’s compliance with the incorporation requirements.

The company will require approval in advance from the MAB’s Board of Directors to start trading.

The company’s trading code will be ‘YORS’ and its shares will be traded through a price fixing system. Solventis is acting as the registered advisor and the company’s liquidity provider.

Taking into consideration the two capital increases performed prior to its debut on the MAB, which amounted to €16.61 million in total, the company’s Board of Directors has set a reference value for each one of its shares at €10, whereby valuing the company as a whole at €50 million.

Optimum Re is a real estate investment company managed by BMB CAP Management, which aims to provide returns derived from rental income and capital appreciation that are generated from the selective acquisition and active management of residential properties in Barcelona and Madrid. Currently, the company’s portfolio comprises fourteen properties and the firm expects to complete the acquisition of an additional building before the end of 2016.

Original story: Expansión

Translation: Carmel Drake