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MERLIN Properties SOCIMI

SOCIMI / Asset management - Fund management

Last update April 29, 2019 | Report an error

David Brush

Chief Investment Officer

Ismael Clemente

Vice Chairman - Chief Executive Officer (CEO)

Listed

Spain's Merlin completes €1.55bn ESG-indexed refinancing

Spanish REIT/SOCIMI Merlin Properties has completed a refinancing through a €1.55bn ESG-indexed facility which is the largest in the European real estate sector to date. The new loan will (...)

Logistics

Spain's Merlin to let logistics clients use city office parking at nights

Spanish REIT Merlin Properties has announced an innovative plan for logistics last-mile operators to use its city office parking space at nights, plus €300m more for (...)

Listed

Spain's Merlin 2018 net unchanged at €287m, to pay special dividend

Spanish REIT/SOCIMI Merlin Properties reported unchanged net earnings of €287m for 2018 despite a large asset sale, and is proposing a complementary dividend for the year. Merlin (...)

Listed

Dividends, rents to keep Spanish SOCIMIs attractive despite share discounts - conference

Even if Spanish REIT/SOCIMIs are trading below NAV and yield compression has ended, dividend payouts coupled with rising rents continue to make them attractive, say executives (...)

Logistics

KKR, Round Hill said bidding €170m for Spain's El Corte Inglés logistics

US investment funds KKR and Round Hill Capital are reported to be leading the bid, at up to €170m, for a 500,000 sqm logistics portfolio put (...)

Office

Spain's Merlin adds two new office buildings in Lisbon for €112m

Spanish REIT/SOCIMI Merlin Properties has paid €112.2m at a 5.4% yield to acquire the Art and TFM office buildings in Lisbon, expanding its footprint the Portuguese (...)

Office

Spain’s Colonial looks forward to organic growth after busy 2018

Spanish office REIT/SOCIMI Colonial, after a takeover and a readjustment of capital this year, is looking ahead to delivering organic growth with a rise to €500m (...)

Housing

Blackstone wins green light in Spain for €1.33bn Testa resi takeover

US investment giant Blackstone has won the green light from the Spanish regulator to take control of listed housing firm Testa, acquiring the stakes of BBVA, (...)

Housing

Blackstone, Caixa, Sabadell are Spain's largest rental housing landlords

As real estate investment capital continues to pour into Spain, US investment giant Blackstone has become the nation's largest residential landlord with 32,000 homes, followed by (...)

Listed

After delays, Portugal cites January 2019 as start date for REITs

After several delays, Portugal is planning to introduce REIT legislation in January for all real estate asset classes and will finalise details before year end, says a senior (...)

Housing

Blackstone takes control of Spain's Testa less than 2mths after flotation

US-based Blackstone has taken control of Spanish listed housing firm Testa less than two months after flotation, buying 50.01% in an offer for Merlin Properties' 17% (...)

Listed

Spain's Merlin grows 1H net 8.6% to €458m, EPRA NAV at €14

Spain's largest REIT/SOCIMI, Merlin Properties, increased IFRS net profit by 8.6% in the first half to €458m, and said EPRA NAV rose 6% to €14.06 per (...)

Housing

Spanish rental housing firm Testa lists on MAB without IPO

Testa Residencial has listed on Spain's MAB exchange without an IPO, becoming Spain's largest rental housing REIT/SOCIMI with over 10,000 apartments. It shares rose 1.44% to €14.10 from the (...)

Listed

Spain's Testa issues IPO prospectus at €1.8bn market cap for €13.86 shr

Testa, the Spanish housing firm owned by creditor banks, REIT/SOCIMI Merlin Properties and Acciona Inmobiliaria, has issued its stock market prospectus targeting capitalisation of €1.83bn at a share price of €13.86. What (...)

Retail

Spain's Merlin expands in Portugal paying €407m for Lisbon Almada mall

Spain's largest REIT/SOCIMI Merlin Properties has paid €406.7m to acquire from Blackstone the Forum Almada mall in Portugal across the Tagus River across from capital Lisbon. The (...)

Housing

Spain’s Testa finalises €207m Caixa resi buy with €92m borrowing

Spanish housing firm Testa Residencial, currently being prepared by its owners for an IPO, has signed a €92m credit financing for the €207m acquisition of 1,329 apartments (...)

Housing

Spain's Testa housing group in €89m pre-IPO capital raise to cut Merlin Property ties

Spanish housing group Testa, being prepared for an IPO in the next few months, is to make a capital increase of €89m for subscription by REIT/SOCIMI Merlin Properties to (...)

Finance

Spanish SOCIMI success story set to go further - EPRA/Iberian Property conf.

Spain's REIT/SOCIMIs have succeeded in the government's aims of reviving the nation's previously depressed real estate, boosting the economy and creating jobs, the EPRA/Iberian Property conference (...)

Listed

Portugal moving toward REIT start this year – EPRA/Iberian Property panel

Shifting economics and politics in Portugal mean the government is increasingly likely to introduce REIT legislation this year, an EPRA/Iberian Property conference heard. The move would (...)

Housing

Spain's Testa, with 11,000 resi units, to IPO before summer - Merlin's Clemente

Spanish REIT/SOCIMI Merlin Properties intends to float housing affiliate Testa Residencial on the stock market before summer to become the nation's first listed residential investor, CEO Ismael Clemente says. Its holdings have (...)

Finance

Father of Spain's REIT regime to speak at EPRA/Iberian Property event

Miguel Ferre, one of the fathers of Spain's REIT regime, is to take part, alongside four of his most successful 'progeny', Merlin Properties, Hispania, Colonial and Lar España, at the Iberian REIT Conference (...)

Listed

Spanish REIT Merlin boosts net by 89% to €1.1bn, proposes added 2017 dividend

Spain's largest REIT/SOCIMI Merlin Properties reported a 89% surge in 2017 net profit to €1.1bn, with FFO up 31% at €289m, though per share FFO rose just 2%. (...)

Finance

Shares in Spanish housing firm Metrovacesa slip below last week's IPO price

Shares in Madrid-based residential developer Metrovacesa, one of the biggest casualties of Spain's recent recession, fell in trading Monday to €15.27, below its IPO price last week (...)

Retail

Spanish REIT Lar Espana boosts portfolio in 2017 by 29% to €1.5bn

Spanish REIT/SOCIMI Lar España reported a 29% increase in portfolio value last year to €1.54bn, which it said is well above the purchase price of the assets under (...)

Office

Bringing REITs under AIFMD seen counterproductive for Portugal

Bringing REITs under the European Union’s AIFMD directive would be counterproductive in Portugal, which has announced their introduction, says a senior executive of Spain’s largest REIT/SOCIMI. David (...)

Listed

Portugal to lead Poland, Sweden into Euro REITs club?

It looks as if Portugal will become the next member of the European REITs club as political confusion reigns in Poland, and Sweden shows little enthusiasm (...)

Finance

European public real estate in good shape, led by German resi, French/Spanish office

European public real estate markets are in good shape as our website goes live. German housing stocks are near highs, as are most of the main (...)