This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.
The socimi has announced that it is currently analyzing a portfolio of real estate assets valued at around 1 billion euros.
Colonial continues in its race to become the first real estate agency in Spain. The socimi has announced that it is currently analyzing a portfolio of real estate assets valued at around 1 billion euros to weigh new acquisitions within the framework of its growth strategy.
The company continues to seek to incorporate new office buildings into the portfolio it already has in Madrid, Barcelona and Paris, valued at 11.7 billion euros, after it has bought assets for 2.7 billion in the last five years.
In addition, and in parallel to the possible new acquisitions, Colonial continues to develop its plan for the promotion and construction of new buildings, in which it has an investment of 1.3 billion euros.
As for the possible new purchases, Colonial points out as a 'golden rule' of its investment and financial policy that they are ‘prime’ building, that is, located in the main business areas of the three markets in which it is present.
On the other hand, any incorporation must respect its financial discipline in the form of maintaining the 'rating' and a debt equivalent to between 36% and 40% of the value of its assets ('loan to value'), according to the company on the occasion of his 'Investor Day'.
In this sense, Colonial, in addition to maintaining a policy of constant optimization of its debt, finances part of its new investments with the resources it obtains from the constant rotation of mature or non-strategic assets.
In the last two years, the socimi led by Pere Viñolas has closed sales totaling 1.4 billion euros. Of this amount, 475 million correspond to the logistics centers that he inherited from his merger with the Axiare, sold this year, an operation with which the company assumes the integration of this firm.
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