Quonia consolidates the project that started in 2016 and increases the value of its assets by 31%

Quonia, the Catalan listed company for investment in the real estate market (SOCIMI) that joined the Alternative Equity Market (Mercado Alternativo Bursátil, ‘MAB’) last July, has just reported its closure for 2016, by publishing a relevant fact, where it gives a detailed description of its track record from the beginning of its activities to the closure of 2016.

The strategy the SOCIMI has followed since its creation has begun to bear its fruits. Right from the start Quonia, with its CEO, Enric Pérez, at the helm, set a strategy of identifying the economic activities that would best resist business cycles. It decided to divide its portfolio into three activities: tourism, education and retail, allocating approximately a third of its investments to each one.

According to the latest review of Quonia’s real estate portfolio, performed by Ernst & Young, the SOCIMI has succeeded in increasing the value of its assets by 31% in respect to the net book value. This is due to the wide experience of the real estate management team, as regards both renovation and asset management.

The property portfolio includes the premises in Barcelona located at numbers 166 and 45 of C/ Balmes, which have been totally refurbished, whereas the renovation work of the building at Paseo Joan de Borbó 60 will start and finish this year. The entry into effect of the new lease agreements of these assets will mean that Quonia’s income will grow by 150%, a percentage that the company foresees will represent an annual income of about €3.0 million at the close of 2017.

Quonia closed 2016 with a net financial debt of €22.3 million, an LTV of 36% and own funds of €33 million. According to internal evaluations, the value of the company shares is between €1.83 and €1.93. In 2017, the SOCIMI expects to continue growing, taking advantage of all the mechanisms offered by the MAB and thus increase its real estate portfolio.

2018-01-05T17:40:47+00:0012 / 04 / 17|Categories: Corporate, Sin categorizar, Uncategorized|

Quonia

You do not know Quonia ?

Quonia, a real estate investment fund devoted to the responsible selection, acquisition and management of real estate assets, is a young company that benefits from the extensive experience of its team in the property business. Set up as an REIT, the company has obtained the authorisations necessary to go public on the MAB.

Its corporate philosophy focuses on detecting strategic properties that respond to the needs of top economic sectors in its geographic area of investment. By implementing a responsible plan, the company adds value to the properties. The projects, with controlled risk, offer good long-term profitability, with a solid portfolio of core products. This is what the company’s slogan is based on, which can be summed up as protecting and contributing value to the investment.

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