19 September 2018 – Eje Prime
The Socimi Go Madrid Benz, whose only asset is the Las Mercedes business park, is going to make its debut on the Alternative Investment Market (MAB) on Friday with a valuation of €60 million.
The company is going to become the 18th Socimi to start trading on that market. The Las Mercedes business park comprises nine buildings, an underground parking lot and a restaurant and leisure area.
Go Madrid Benz is not planning to access financing to expand its portfolio but is instead focusing its strategy on the management of its only asset to “maximise returns for investors”.
The Socimi expects to close the year with revenues from rental income of €8.59 million and profits of €1.03 million. Go Madrid Benz acquired the complex in 2016 for €131.36 million. The main tenants of the park include the Spanish Medicines Agency, Enaire, Altran Innovación, Applus Norcontrol, Ibermática, and Xerox España.
Original story: Eje Prime
Translation: Carmel Drake