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86 // iberian.propery / 2017
LARESPAÑAREALESTATESOCIMI S.A. (LRE) began
to operate as a listed companyon the Spanish Stock
Exchanges on 5 March 2014, as a SOCIMI (Spanish
REIT) with the aspiration to become a reference for
asset management in Europe. Lar España’s aim is
to generate high returns for its shareholders via its
business strategyofowning, operatingand renting its
RealEstateportfolio,which ismainlyfocusedonCom-
mercialPropertyAssets inSpain andhas expanded in
its size currently surpasses the EUR 1.3 billion barrier.
Lar España is investing following a value added ap-
proachbasedon an activemanagement strategy.To
doso, thecompanyhas raisedEUR400million in initial
capital from its IPO and in January 2015 completed
the first bond issue carried out by a SOCIMI in Spain
for EUR 140 million. In August 2015 it successfully
completed a EUR 135 million share capital increase
and another EUR 147 million one in August 2016.
On 4th June 2015, Lar España was included on the
FTSA EPRA/NAREIT Global Index, a select global
index designed to showcase the general trends of
listed Real Estate companies around theworld. The
European Public Real Estate Association (EPRA)
recognized Lar España with their ‘Gold Award’ in
2016, hence turning the firm in the first Spanish
SOCIMI in receiving twice consecutively the most
prestigious award in the real estate sector in recog-
nition of the quality of the information provided by
Lar España within the Index standards framework.
Sector Profile
Office
Shopping Center
Logistics
Residential
Main listed
market Bolsa de Madrid
Number of
shares issued:
90.540.562
Free Float 45,40 %
Last quotation 7,92 €
(07/06/2017)
Capitalization € 717 Mn
Gross Asset
Value € 1.313 Mn
Net Asset Value € 1.191 Mn
Nº of assets 29
Gross Rents
2016 € 60 Mn
EBITDA 2016 € 18 Mn
NET Earnings
(EPRA)
€ 6,7 Mn
NAV per share € 13,16
Jose Luis del Valle
Chairman
Pedro Luis Uriarte
Member
Alec Emmot
Member
Board Members
Data Provided to Iberian Property (Lar España)