A group of international investment funds whose identity remains anonymous initiated takeover bidto take control of the listed real estate Excem Socimi Sir. This Socimi (real estate investment company) is dedicated to buying shared flats and has its own manager, Homiii, to manage them.
Investor, company Narbon SLis a company owned by KDN Innovación y Servicios SL, described on its corporate website as “innovation applied to the funeral industry”. Both limited companies are managed by Gabriel Narbón Prieto and Antonio Teruel Saiz, who do not have any reviews on the internet. . According to the sources of EL PERIÓDICO DE ESPAÑA from the real estate market Prensa Ibérica group, it is a group of international institutional investors who want to create a large cohabitation company and Excem helps them not to start from scratch.
Initiating the takeover offer, the company agreed to pay 1.20 euros per share of the company. evaluates the operation at 14.4 million euros. However, the company’s list price is €0.65, representing a stock market value of 7.8 million. International corporate funds 85% listing premiumeven though they would take control of assets worth 33 million more than 50% discount.
The offer was amicable, meaning it was well received by shareholders. As they commented on this newspaper, “Excem Gayrimenkul, a real estate company of the Excem Group, as part of its investment strategy, approved the rotation of investments in this sector motivated by the receipt of this offer“.
company history
Excem Socimi Sir was founded in 2016 with 50 investors and went public in 2018. The company’s business model consisted of purchasing and managing large apartments in a shared flat or shared flat format. Together with Antonio Mochón, one of the supporters of the project and its current CEO, they founded Homiii, the manager of these houses; currently responsible for multiple things 500 houses Madrid. Homiii manages 29 assets of Excem Socimi (end of 2021) and other owners.
Owned by the listed real estate company Assets worth 33 million eurosThe average annual occupancy rate of the flats is 95% and the delay in paying the rental fees is 0%.
Corporate operation in the Coliving market
Coliving is positioning itself as one of investors’ favorite assets to invest in for years to come.. It’s a very unprofessional industry that almost anyone can join. Homiii format, large apartments or small detached houses, there are many operators, but none of them have achieved market share.
Why does it attract large international funds? Coliving’s higher profitability than traditional leasing with very similar risks. Normally shorter contracts are signed, take months and have a lot of turnover. However, the fee or rent paid by the customer is higher than the traditional way of renting a house.