According to Spanish Real Estate, the Administrative Director of Testa Residencial seeks to make an exceptional possibility for minority shareholders not to become diluted by a capital expansion on the 7th March by means of cash contributions principally by majority shareholders with the exception of Merlin Properties.
The same source adds that this expansion happens once the first cash injection for expansion is carried out, approved by the Board to be a total of 659,722,999,950 through which Testa Residencial incorporated into their portfolio 3.317 new houses mainly from Santander, BBVA and Banco Popular; and this has placed them as one of the companies specialising in house rental with the best market supply.
Currently, the company has a portfolio of 7,992 homes, with an occupancy rate above 92%.