In this process, the REIT led by Fabrizio Agrimi hired investment bank Mirabaud Securities. «Vbare and Mirabaud are jointly exploring different alternatives (among others, a potential share capital increase) to reach a NAV of €100m and step up into the main market in the following months», revealed the company in its 2019 results report released this week at the Mercado Alternativo Bursátil.
The several assets already identified – the majority of which are located in Madrid – are estimated at more than 450 million euro. This is a «robust pipeline» over which the company expects «to deliver strong value in the mid/short term», according to the same document.
For Vbare, 2019 was a year of assumed investment, with a total 76 operations representing 17.2 million euro. This strategy earned it a 46 % yoy increase of its Gross Asset Value. The company currently has 345 housing units for rent, which, in total, are worth 73 million euro.