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For Almagro, 2020 will be the last year to invest
17 December 2019 | Vanessa Sousa

2020 will be the last investment year for Spanish REIT Almagro Capital. From then on, it will start divesting, a strategy which the company should follow until 2026.

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This information was advanced by the REIT in a document made available at the Mercado Alternativo Bursátil, in which it also revealed that «if the market circumstances advise and as an exception, the General Board might agree to a two year extension, until the 31st of December 2028, to complete the company’s full divestment».

For now, the REIT, which bets on senior residences, has a total 33 assets located in the prime areas of Madrid. The latest 3 assets acquired during the third quarter are the result of a strong investment of part of the capital received from the 16.3 million euro capital increase it carried out in August.

To capitalize unoccupied assets and to increase bank financing are the strategies the REIT should follow to maintain the investment process during the next few months, revealed the report concerning the third quarter’s income made available in October.

The company’s goal is now to reach 50 million euro in its own capital, according to daily newspaper Eje Prime, which will afford it an investment capacity of between 70 and 80 million euro, considering its 40% debt.