Árima Real Estate has informed the National Securities Market Commission (CNMV) that the company lost a total of 14.8 million euros between the months of January and June. In the same period of 2022, on the other hand, the Spanish socimi achieved profits of 22.5 million.
The listed real estate company has explained the results, defending that its asset portfolio, which at the end of the semester was valued at 402 million euros, has reached a “turning point” in the first half of 2023 and that from this point “it will growth potential is beginning to materialise.
During the last six months, the real estate investment company has registered gross income from recurring rents for a value of 3.9 million euros, which represents a difference of 40% compared to the first half of 2022. From Árima they have indicated that this difference cia is due to a higher volume and a rise in rental prices.
More than 100.00 rentable square meters
The company highlights the growth potential of its projects and calculates that its return on cost will be between 6.2 and 6.7%, above the average for “prime” offices in Madrid.
It has 10 assets (offices and logistics) under renovation and operation, with a gross leasable area of 113,100 square meters and 1,558 parking spaces. In the 8 assets in operation (with 87,760 square meters) the occupancy rate reaches 70% and the annualized gross income amounts to 11 million euros, with a profitability of 5%.
