- 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
