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Alquiler Seguro sells its first socimi for 14 million and launches a new one

Following the closing of the sale of Quid Pro Quo, its first listed real estate investment company which will now belong to Ktesios for a transaction of fourteen million euros, Alquiler Seguro has launched a new socimi.

The company has released a statement explaining that "the decision to launch a new vehicle is based on the solid results obtained with QPQ in terms of profitability and growth, since its debut on the Mercado Alternativo Bursátil (MAB) in July 2018. During this time, the first SOCIMI specializing in dispersed housing rental in Spain, has obtained a gross return of 34.3%, with an annualized yield of 6.9%."

In addition, Antonio Carroza, president of Alquiler Seguro, comments that "the good results obtained and the interest generated by several investment groups ratifies the added value that we have contributed to the business over the years, both as a vehicle management company and as a property manager of the rental properties". 

The new socimi will be named Alquiler Seguro Asset Management and will start with a portfolio of 16 properties. It will have Alquiler Seguro as property manager, like the previous socimi, and expects to reach 180 properties in the next three years.

In addition to the announcement of the new socimi, Ktesios informed BME Growth that this Tuesday it has exercised the call options acquired on 99.93% of the shares of QPQ, i.e. the acquisition of 10,371,498 shares. The price per share would be 1.25 euros according to the announced price, therefore 12.9 million euros will be paid.

Ktesios was created in 2019 and totals 520 assets, with a combined value of €30.3 million. QPQ Alquiler Seguro, owned a portfolio of 169 assets with a rate of 93% and notable presence in Madrid, Barcelona, Valencia and Alicante. The addition of these two companies will result in a platform of 700 properties in almost all of Spain.

"We are proud to discover the interest aroused by this new project, to which we will undoubtedly apply the knowledge acquired in the successful experience of Quid Pro Quo Alquiler Seguro Socimi" added Antonio Carroza, president of Alquiler Seguro, in his statement.