Despite divestment, Lar España closed 2019 with a €1.552M portfolio

Despite divestment, Lar España closed 2019 with a €1.552M portfolio

Office building Marcelo Spínola sold one year ago | Lar España's PR

The REIT reached this result while reducing its portfolio from 18 to 15 assets. Among the assets sold last year are Lagasca 99 (residential), Eloy Gonzalo, an Office building with 6.401 sqm, and the Marcelo Spínola Office building, with 1.905 sqm.

Focusing only on to add value to its commercial assets, Lar España managed to reach a Gross Rental Income of 81.1 million euro, 4.2% more yoy.

This is one more indicator of what the REIT highlights as «strong indicators» which showed its «success» during the presentation of last year’s results, which was released last week.

Along with these indicators, the EBITDA closed last year at 59.3 million euro, representing an 8.8% yoy increase. Another financial indicator is the net benefit which, last year, was 80.7 million euro.

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