The role of the consultant and the importance at the public offering of the SOCIMI

The role of the consultant and the importance at the public offering of the SOCIMI

And it’s in these public offerings, when it’s necessary to stand out and show a value proposition to the investor, that the role of the financial and property consultant is important, besides having the support of a good tax consultancy. This is one of the conclusions from the Encuentro Inmobiliario (Real Estate Meeting) “SOCIMI, towards a mature market”, organized by Gesvalt, Armabex and Observatorio Inmobiliario.

Luis Martín Guirado, Corporate Director of Business Development at Gesvalt, noted that “we are facing an emerging market and where it is essential to dynamically develop the viability plan of any SOCIMI, in order to succeed. This will be crucial so that an investor may decide in which SOCIMI to invest, depending on their strategy, on their assets, their management team, among others. Is lacking often an independent opinion to help the investor”, he states.

In this regard, Sergio Espadero, director of Advisory Services at Gesvalt, highlighted that for SOCIMIs “the value is essential, but not the most important. It's necessary to follow a strategy, because that is what gives confidence to the regulator, the market and the investor. This is something which is being implemented as the market matures. We are discussing the basis of a future rating market in a segment like SOCIMI, which is growing and maturing. This process involves more transparency, more opportunities to compare investment products existing in the market”.

SOCIMIs are here to stay

Luis Martín Guirado insisted on the dynamic role of the SOCIMI among the Spanish real estate market. “SOCIMI transformed bricks into shares”, has declared, to close the meeting with three conclusions: “It is clear that SOCIMI are here to stay; these means a process - the public offering-, not without difficulties - and here is where the consultant takes a role-, and this is the moment to launch those vehicles, taking advantage of the economic situation we are currently living”. 

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