Spanish property firm Colonial had a good year in 2017, gaining 36.3% year-on-year compared with a drop of 1.56% year-on-year for the office market sector in the rest of Europe, due to the fear of an increase in long-term rates.
This Monday Colonial has launched a bid for all the shares in the socimi Axiare which it does not already own at a price of 18,50 euros/share. This means valuing the whole of the company at 1.462 billion euros. The transaction will allow Colonial to become a leader in the offices sector in Europe.
José Benito de Vega | Axiare has outperformed the other listed Socimis, as well as the IBEX-35 since it made its market debut in July 2014. The rise in the company’s NAV per share has reflected this upbeat trend, increasing over 30% in three years.
A good dozen Spanish small and midcap listed companies have presented their projects to big institutional investors on different days in New York and Chicago. The event was organised by Spain’s Bolsas y Mercados Espanoles (BME), broker JB Capital Markets and its US partner Auerbach Grayson.