Spanish REIT Axiare has added seven properties in Madrid and one in Catalonia to its portfolio for a total investment of €173 mln.
Spanish REIT Axiare has added seven properties in Madrid and one in Catalonia to its portfolio for a total investment of €173 mln.
The investment volume represents 45% of the proceeds from a €395 mln capital increase carried out in June. At the time the share issue doubled Axiare's market capitalisation to €840 mln.
The transactions in Madrid and Catalonia add 108,650 m2 of gross leasable area, lifting the total company portfolio to 550,000 m2.The new assets are five office buildings and two commercial premises in the Spanish capital and a complex of logistics warehouses in Catalonia.
The company indicated it plans to invest the remaining funds from the capital increase on further acquisitions.
Since its IPO a year ago, Axiare has carried out 18 investments totalling €761 mln.
