Spanish REIT Barcino Property announces capital increase

Barcelona based Barcino Property Socimi SA that has a market cap of €14.7 million has announced a €15 million capital increase. The Spanish REIT, which listed in December 2017 owns 10 residential buildings in Barcelona (c.11,000m²) and is up +0.71% today on the Madrid Alternative stock exchange (MAB).

The REIT’s board of directors is presided by Mateu Turró, part-time professor at the Universitat Politècnica de Catalunya and former honorary associate director at the European Investment Bank. Also on the board are Ralph Weichelt, former fund manager for Internos Global Investors and Francesc Ventura, former General Director of Housing for the Government of Catalonia.

Barcino Property’s portfolio is valued at €33.7M by CBRE after their recent acquisition of a 79%-leased residential building on nº 18 of Barcelona’s Calle Olivera for €2.15M. The investment committee focuses on residential properties although they are also interested in analysing office and retail high street opportunities.

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