Arima Real Estate Progress in 2022. Socimi, formed by the founders of Axiare, which was acquired by Colonial in 2017, closed its last financial year with a record decline. up to 6.2 million euros with a 20% increase in rents. Permanently traded company, 10.47 million net profitafter approximately 13 million revaluations of its assets.
The real estate company, which specializes in the acquisition and development of office buildings in the best locations, managed to bring together. Portfolio worth 380 million, 11% more than the end of 2021 and 30% more than the money invested. “The increase in valuation reflects improvements to properties and leases signed over the period,” they explain in a presentation of the results published at the National Securities Market Commission. The publicly traded company estimates its portfolio could gain 210% in value once all ongoing work is completed.
In 2022, Árima Real Estate completed its first reforms, the Habana and María de Molina buildings, closing a 16,200 square meter lease. “All this allowed him to close the year on a positive note. 10% occupancy increase Annualized rental income compared to fiscal year 2021 is 9.6 million euros, 80% higher than in the previous period.
new investments
Led by Luis López de Herrera-Oria, the company opens the door to new acquisitions in 2023: “The company is currently analyze new investment opportunitiesThis could mean additional leverage for value creation”. It currently has €90m of liquidity to face them and a prudent indebtedness of 12.8% of the current value of assets.
“we have a defensive portfolio with high potential and one of the strongest balance sheets in the industry. We analyze assets totaling 1,000 million euros and we believe that 2023 can be a turning point in investment for us,” adds the company’s CEO.
In parallel, Árima is making a major share buyback worth 20 million euros, or two million shares. So far, they have completed 26% of the plan, or 1.8% of the shares issued. In addition, the management team expanded its position in the company, reaching 7% of the capital.