Lar España revalues its assets to €1.5 million in 2018

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

Lar España ends 2018 with the revaluation of its assets. The socimi's portfolio, made up of a total of nineteen properties, registered a value of 1.5 million euros at the end of last year, 40% more than at the end of 2017, according to the company's report to the National Market Commission Values ​​(CNMV).

By type of property, the shopping centers of Lar España reached a revaluation upwards of 37%, driven by the improvements made in some of these assets. Among them, there is the integral remodeling of Albacenter and the works of renovation of the outlet and the media park of Megapark in Bilbao, as well as the Portal de la Marina shopping center in Alicante.

In the case of the offices owned by the socimi, the value of these properties increased by 140% in 2018, a fact that has allowed the company to start the divestments of Egeo in January and Joan Miró in December. . Among the reforms carried out in this segment, the rehabilitation of the building located on Eloy Gonzalo Street stands out.

In 2018, Lar España disposed of its logistics portfolio by transferring to Blackstone the four industrial warehouses it owned in Alovera (Guadalajara) and a fifth in Almussafes (Valencia), as well as a land for industrial use owned by Cheste. The transaction closed for 120 million euros.

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

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