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REITs listed at MAB closed first quarter with €307M invested
09 April 2020 |

REITs listed at the Mercado Alternativo Bursátil (MAB) gained strength during the first quarter of 2020. In total, these companies invested 307 million euro in the acquisition of new assets, almost 4 times as much as the amount registered during the same period last year.

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Edíficio España, Madrid

The most significant operation – which represents more than half of all the investment – was carried out by REIT Inbest Prime II in January, when it purchased a 15.000 sqm commercial area located at the iconic Edíficio España, in Madrid for 160 million euro.

The second-largest operation was carried out by REIT General de Galerías Comerciales in February with the acquisition of a 145.794 sqm terrain in Valdebebas for 55 million euro, where the mixed-use Valdebebas Ágora Project will be built. The same REIT also bought 5 residential parcels in Rincón de la Victoria (Malaga) for 11 million euro in March, recalled Eje Prime this Wednesday.

Témpore was the third REIT listed at MAB to invest the most during this year’s first three months. It paid 40.8 million euro for a set of residential buildings located across several Spanish municipalities: Castellon, Almazora, Villarreal, Madrid and Leganes.

Despite the end of the first quarter having been impacted by the economic instability caused by the new coronavirus, the amount invested on the 12 operations during that period is almost 4 times more than the amount invested during last year’s first quarter: 79.8 million euro, according to the same daily newspaper.