New premiere of a Real Estate Investment Trust in the MaB. It is the turn of Excem, firm that has real estate dedicated to the rental of rooms for students and young professionals.
Millennials thus become the public of this investment company, which has set a price of 1.40 euros for each of its shares, which means raising the value of the company by 17 million euros, while its assets amount to 30 million euros.
Excem begins its journey in the stock market, after the capital increase by 4.1 million euros last March, endorsed by 40 investors.
The level of annual occupancy of the company’s property amounts to 97%. They are concentrated in Madrid in this first business stage. With just over 20 months of experience, it has 40 floors among those purchased and committed, totaling more than 7,000 square meters and 252 rooms under management for the 2018-2019 academic year, distributed in the neighborhoods of Moncloa, Chamberí, Centro and Salamanca.
After its arrival at MaB, Excem is planning an expansion process in other cities for the same client profile in points such as Valencia, Malaga, Barcelona, Seville or Santiago Compostela.
Antonio Mochón, CEO and executive responsible for the project, said in the keynote address on the Madrid Stock exchange, which has been fundamental the confidence offered to investors.
“We have managed to revalue the value of the stock by 40%.” Continuing to grow and reach the goal of more than 3,000 rooms in Spain guarantees us to reach and even overcome the possibility of a 5% annual dividend. Income and security for the investor, as an example that our occupation is 97% and delinquency is 0%, “said Mochón.
SOURCE: El Mundo