Plaza Mayor Xativa is owned by VERACRUZ

Plaza Mayor Xativa is owned by VERACRUZ

New Spanish REIT, Veracruz Properties, to list on MAB

Veracruz Properties SOCIMI, a new Spanish REIT, has received a favourable report from the Coordination and Admissions Committee of Madrid’s Alternative Stock Exchange (MAB) and will list at €32.6 per share with ticker symbol “YVCP”.

The group entered the Spanish market in 2014 with the acquisition of 2 shopping centres in the region of Valencia (Plaza Mayor de Gandia & Plaza Mayor de Xàtiva). The landlord has since managed to improve the lease-up of the centres and retain key anchors such as Media Markt, Bershka, Calzedonia, Sprinter, amongst others. Additionally, the fund owns El Arcangel Shopping Centre in Andalusia and Parla Natura in the region of Madrid. Early in 2018 the REIT added two retirement homes which were previously owned by french investors, Omega. In total, the REIT has an overall valuation of approximately 76.7 million euros and currently owns 4 retail properties with a total GLA of 98,038m² as well as 2 retirement homes, 1 office building and 1 plot of land.

The CEO of Veracruz Properties is Salvador Fondeur, an experienced finance professional who has been President of the Investment Committee of AFI Popular, S. A., the fund management arm of Banco Popular Dominicano, one of the Dominican Republic’s largest banks. The rest of the board of directors of Veracruz is formed by Spanish and Dominican professionals with over 40 years of experience in banking and real estate investment.

Armabex is the Registered Adviser and Banco Sabadell will act as Liquidity Provider.


New Spanish REIT, Veracruz Properties, to list on MAB comentarios en «2»

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