Post by account_disabled on Mar 12, 2024 1:46:01 GMT -5
Colonial has sold to InmoCaixa, a real estate subsidiary of CriteriaCaixa, an office building in the Arroyo de la Vega business park (Alcobendas), as reported this Wednesday by the company, which does not reveal the amount of the transaction.
After this operation, the only one that has been carried out in Madrid this year beyond the M-30, Colonial has carried out a new divestment within the framework of its 'flight to quality' strategy, which has already exceeded 500 million euros in the markets of Madrid and Paris.
The asset, which has an area of 17,400 m2, has Cambodia Telegram Number Data the 'BREAAM Very Good' and 'LEED Gold' sustainability certification obtained by Colonial after the rehabilitation carried out on the property.
The operation has had the advice of BNP Paribas Real Estate, Cuatrecasas and Roca Junyent, on the legal part, Deerns on the technical part and Deloitte on commercial valuation advice.
InmoCaixa, a subsidiary of CriteriaCaixa, manages the real estate assets of the "la Caixa" Foundation, with an asset portfolio of more than 2,700 million euros, distributed throughout Spain.
In addition to this sale, the SOCIMI has disposed of 10 assets totaling an area of 98,215 m2. 27% corresponds to land and office buildings with high levels of vacancy, 35% to properties located in secondary locations, and the rest to mature assets with no long-term value creation path. These divestments have allowed the company to reduce its net debt by 421 million, bringing it to 4,934 million euros. Most of the operations have been executed in 2023.
A new round of divestments
The Socimi of Catalan origin plans a new round of property sales after completing the divestment program that began last year and with which it has earned more than 500 million euros.
As Pere Viñolas, CEO of Colonial , explained at the shareholders meeting, “the divestment plan has worked very well and there will be a second wave in the second half of this year.” Viñolas assured that the scope of this second phase of divestments has not yet been decided, nor have the assets that will be put up for sale been identified.
Viñolas also took the opportunity to remember that the real estate sector is experiencing “a year of transition” and ventured that the turning point will not arrive before the beginning of 2024.
After this operation, the only one that has been carried out in Madrid this year beyond the M-30, Colonial has carried out a new divestment within the framework of its 'flight to quality' strategy, which has already exceeded 500 million euros in the markets of Madrid and Paris.
The asset, which has an area of 17,400 m2, has Cambodia Telegram Number Data the 'BREAAM Very Good' and 'LEED Gold' sustainability certification obtained by Colonial after the rehabilitation carried out on the property.
The operation has had the advice of BNP Paribas Real Estate, Cuatrecasas and Roca Junyent, on the legal part, Deerns on the technical part and Deloitte on commercial valuation advice.
InmoCaixa, a subsidiary of CriteriaCaixa, manages the real estate assets of the "la Caixa" Foundation, with an asset portfolio of more than 2,700 million euros, distributed throughout Spain.
In addition to this sale, the SOCIMI has disposed of 10 assets totaling an area of 98,215 m2. 27% corresponds to land and office buildings with high levels of vacancy, 35% to properties located in secondary locations, and the rest to mature assets with no long-term value creation path. These divestments have allowed the company to reduce its net debt by 421 million, bringing it to 4,934 million euros. Most of the operations have been executed in 2023.
A new round of divestments
The Socimi of Catalan origin plans a new round of property sales after completing the divestment program that began last year and with which it has earned more than 500 million euros.
As Pere Viñolas, CEO of Colonial , explained at the shareholders meeting, “the divestment plan has worked very well and there will be a second wave in the second half of this year.” Viñolas assured that the scope of this second phase of divestments has not yet been decided, nor have the assets that will be put up for sale been identified.
Viñolas also took the opportunity to remember that the real estate sector is experiencing “a year of transition” and ventured that the turning point will not arrive before the beginning of 2024.