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Advero Properties announces a new asset and has already exceeded 200 homes in its portfolio

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ADVERO Properties SOCIMI, a real estate investment company listed on BME Growth, specializing in middle-income rental housing, has formalized the acquisition of its thirteenth asset residence in Spain.

The property, located in the city of Martorell (Barcelona) and already fully rented, is made up entirely of 24 homes and 10 parking spaces and storage rooms.

This residential building is ADVERO’s third acquisition in Martorell, where the company will have 61 homes in its middle-income segment, once again reinforcing the SOCIMI’s strategy of balancing its geographical diversification within Spain with economies of scale in areas where it is already present.

After this operation, the advero wallet It is made up of 13 buildings with a total of 218 homes, all of them destined for the middle-income rental market. The company is currently present in Barcelona (8 buildings in the municipalities of Rubí, Sabadell, Terrassa and Martorell), Madrid (3 activities in the Tetuán and Vallecas neighbourhoods) and Málaga (2 buildings in the Trinidad neighbourhood). The company hopes to continue consolidating its presence in Madrid and Malaga with new additions in the near future.

ADVERO finances its growth through the combination of capital increases and bank debt. Last December, the company’s General Shareholders’ Meeting formalized a new capital increase of 10 million euros and delegated to the Board of Directors the execution of a second issue of around 6.5 million euros, scheduled for the first months of 2022.

As for the financial appeceamentADVERO maintains a conservative borrowing policy, setting its optimal maximum limit at 30% of net debt over the value of the portfolio.

The ongoing capital increases and access to undrawn bank financing will place the company’s investment capacity at 26.5 million euros by 2022, allowing ADVERO to more than double its investments to date and continue developing its investment plan. increase.

In its four years of activity, ADVERO has consolidated a overall business of value to its shareholders, which has been highly defensive in the face of the Covid-19 crisis. With occupancy rates of 98% in assets that have been operational throughout 2021, due to high demand from the middle-income segment in Spain. ADVERO is also an interesting hedging vehicle in the current inflation environment, due to the direct connection between inflation, wages and rents in the company’s specialization niche.

Solid demand in ADVERO’s activity segment led the company not to slow down its development in 2020 and 2021, obtaining financial resources amounting to 22 million euros in these years and incorporating the Madrid and Malaga. ADVERO debuted on the stock market in November 2019, a few months before the start of the pandemic, having, in these two years since then, obtained a revaluation of its shares of 48%.

As of March 14, 2022, ADVERO shares are trading at a unit price of 9.60 euros, an increase of 8.5% in the last twelve months, which places the company’s market capitalization at 34 million euros.

Likewise, as reported by the company, the operation has been advised by the Seller by Busquets Gálvez.

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