Axiare Patrimonio SOCIMI : incrementa su beneficio un 145% en el tercer trimestre

Madrid, 14 November 2016.- Axiare Patrimonio obtained net profits of EUR 91.3 million at the close of the third quarter, representing an increase of 145% relative to the same period in 2015. The active management strategy of the real estate portfolio has enabled the company to obtain EUR 30.5 million in rental income in the first nine months of the year, up nearly 23% in comparison to the same period in 2015.

Axiare Patrimonio has improved its properties by positioning them as the best in their respective catchment areas. Consequently, rents on these properties have increased considerably given their quality. The occupancy rate of the company's portfolio has risen 7% in just nine months, and registering 87% on 30 September.

From January through to September, the Socimi signed a total of 22 rental agreements, including rent revisions and renewals, corresponding to more than 91,000 sqm of gross leasable area (GLA). In the third quarter alone, new contracts were finalised in Fernando el Santo, Cristalia 2&3 and Avenida de la Vega 15, for a total of 4,000 sqm.

Luis López de Herrera-Oria, Axiare Patrimonio's CEO, , explains, 'These results reinforce the line of value creation that we consistently pursue for our shareholders. The company is achieving its business plan and expects to maintain strong, steady growth. The market is recognising and responding to our strategy and management initiatives'. López de Herrera-Oria adds, 'Through our ability to detect and acquire quality assets at attractive prices, the active management of our real estate portfolio, and cost containment, we will continue on this successful path'.

In June 2016, the company's asset portfolio exceeded EUR 1 billion according to the valuation issued by CBRE Valuation Advisory. This figure reflects a 25% increase over acquisition price, as a result of the company's strategy and management: to acquire properties at highly competitive prices and manage them to become the best in the catchment area, thereby increasing their value. ESTO SE REPITE ARRIBA

By asset type, as of 30 September 2016, 68% of the portfolio's value corresponded to the office sector, 19% to logistics assets, and 13% to retail, consistent with the commitment to our shareholders. By location, 97% of the portfolio is located in the most consolidated regions of Madrid and Barcelona. Axiare Patrimonio's offices are considered prime real estate with a clear vision focused on sustainability and technological innovation.