Spanish REIT Association Asocimi created

Spanish REIT Association Asocimi created


Asocimi was created with 15 REITs, which operate in the residential, retail, logistic and office sectors. 10 more companies have already confirmed their membership into the association and should sign the respective contracts in the next few days. Any company which operates under this regime may request its admission into Asocimi, regardless of being listed.

Asocimi’s goals are to «lend visibility to these companies, whose operations and activities are generally not known in Spain, unlike what happens in other European countries. On the other hand the Association intends to actively take part in these companies’ regulation development in order to establish a more solid legal stand than the current one by adding its experience», as written in the release.

«The association wishes to highlight, not only the REITs’ advantages for investors, but also its dynamic characteristics, both in real estate and in the economy in general, since these vehicles create jobs, manage real estate properties efficiently and add value to the assets with a focus on long term», it also states.

Javier Basagoiti, Corpfin Capital Real Estate’s, has been chosen as Asocimi’s president. Eduard Mercader, Quonia’s CEO, will be the vice-president. The rest of the management team is composed by Jaime de Gabriel (AM Locales), who will be secretary; Joaquín López-Chicheri (Vitruvio), who will be the treasurer; Nicolás Díaz (Témpore Properties) and Antonio Mochón (Excem Capital & Partners) who will be members of the board.

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