Axiare Patrimonio increases its profit 145% in the third trimester

Axiare Patrimonio obtained a net profit of 91.3 million euros at the close of the third trimester of the year, which involves an increase of 145% in respect of the same period of 2015. The company states that rent income stood at 30.5 million in the first nine months of the year, about 23 % above the same period as the previous year.

The SOCIMI informed CNMV that the occupancy rate in its portfolio has increased by 7% in just nine months. In this way, on 30th September, the company portfolio will register an occupancy rate of 87%.

Axiare Patrimonio has signed between the months of January and September, a total of 22 rental contracts, including rent revisions and renewals, corresponding to a GLA of more than 91,000 square metres. In detail, they state that in the third trimester nine new contracts were signed in its properties Fernando el Santo, Cristalia 2&3 and Avenida de la Vega 15, for a total of 4,000 m2.

The assets portfolio of SOCIMI as listed on the continuous market surpassed one thousand million euros in June 2016. This date reflects a 25% increase on the acquisition price, as a consequence of strategy and company developmental management: to acquire properties at competitive prices, their repositioning and management in order to turn them into the best in the area of influence, and thus increase their value.

By asset type, to 30 September 2016, 68% of the portfolio value corresponds to the office sector, 19% to logistics assets and 13% retail, in line with the agreement reached with the shareholders. By location, 97% of the portfolio is to be found in established zones of Madrid and Barcelona.