Axiare Patrimonio records earnings of €31.3 mln and a 11% appreciation of its asset portfolio (ES)

|© Axiare Patrimonio
  • Rental revenues totalled €18.7 mln in the first half of the year
  • To date, Axiare Patrimonio signed long term financial agreements for a notional amount of €264 mln
  • In June, the company doubled in size with a capital increase of €395 mln; to date it has already invested 60% of the raised proceeds

 

Reaching one year of business operation, the SOCIMI Axiare Patrimonio has released the consolidated financial statements for the first half of 2015. The results show a very positive performance in all variables including an IFRS EBIT of €32.6 mln and net profit of €31.3 mln.

 

From January to June rental revenue amounted to €18.7 mln, derived from a portfolio comprised of 21 assets with an average occupancy rate of 90.9% and an average gross yield on cost of 6.8%.

 

The market value of its property portfolio determined by CBRE Valuation Advisory at June 30th, according to RICS standards, reflects an 11% increase over the acquisition price of the properties, since the company began operations in July 2014.

 

Source: Axaire Patrimonio

 

 

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