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COLONIAL INCREASES PARTICIPATION IN AXIARE UP TO 15.495%

Colonial has increased its participation in the capital of Axiare Patrimonio to 15.495%. 

According to Spanish Real Estate, the 15.09% bought from Perry Partners fund allowed it to contribute in an important way to the capital of the Socimi in October 2016.

The real estate firm thus becomes the first partner of the Socimi, far from diluting their participation in the company, after the capital expansion of 93 million euros that Axiare carried out at the beginning of this month.

The same source explains that Axiare, who consider the real estate company to be a competitor, has never seen Colonial’s investment positively. After transferring the capital, the managing director of the Socimi hired independent legal experts to "analyse the distinct consequences which this operation could have for the Socimi ".

It can be recalled that on the 8th March last, Axiare completed an accelerated capital expansion which it had launched the day before, due to which it obtained the 93 million euros which will go towards the purchase of properties and in this way increase their total holdings.

Currently, Axiare has a portfolio valued at 1,489 million euros, of which 74% are office buildings.

As well as Colonial, Axiare’s total capital holding also includes  the T. Rowe Price fund, with 9.7%, Citigroup with a further 9%, JP Morgan with 8%, Gam International with 5%, and Gic Private with 3%.