All Iron RE I SOCIMI has informed BME Growth of the completion of a capital increase of 19 million euros, which increases its share capital by 14.2%, thus exceeding 200 million euros in equity. The operation was carried out through the issue of 1,502,040 new shares at a price of 12.5 euros per share, 9% below the company's net asset value (NAV) set at 13.8 euros per share at 30 June 2024.
The new funds will be used entirely to continue the socimi's growth plan, which focuses on the acquisition of strategic assets in Madrid and Barcelona. The company expects to announce a significant transaction in the coming weeks and aims for the new shares to start trading in late December or early January.
All Iron currently has a portfolio of 19 properties focused on the short and medium term flat segment. Of these assets, 10 are already operational and 5 are under construction. During the first half of 2024, the company experienced a 60% increase in revenues, reaching 3.4 million euros. Operating profit (EBITDA) grew by 156% to 2 million euros, with a revenue margin of 60%.
The average occupancy of the flats was 83% during the first half of the year, while prices recorded a significant increase. The average price per night reached 107 euros, 19% higher than in the same period of the previous year.
Banca March acted as financial advisor to the transaction, while Baker McKenzie provided legal advice. With this capital increase, All Iron RE I SOCIMI reinforces its capacity to continue expanding its asset portfolio and strengthening its market position.
