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Socimi Saint Croix Obtains €11.4M Loan From Banca March

Posted by: In: Real Estate 23 Jan 2017 Comments: 0 Tags: , , , , , , , , , , ,
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23 January 2017 – Expansión

The listed company owned by the Colomer family, which also control the real estate company Pryconsa, has mortgaged one of its assets by way of guarantee for this loan, which has a maximum term of 14 years.

This long term loan from Banca March will allow the Socimi to continue with its business plans, which include managing properties worth more than €300 million.

Saint Croix is the vehicle through which the owners of Pryconsa, one of the few traditional real estate companies in the sector that survived the crisis, are managing their personal wealth.

At the end of September 2016, the Colomer’s Socimi owned a portfolio containing 209 assets, worth €339.26 million. They included retail premises, such as a Zara store on Conde de Peñalver (Madrid) and several supermarkets leased to Día; offices buildings such as the headquarters of CLH on Calle Titán; as well as a large portfolio of hotels, including five 4-star and 5-star hotels on Isla Canela (Huelva), managed by hotel chains such as Iberostar, Meliá and Barceló.

During the first nine months of 2016, Saint Croix earned €10.46 million, 18% less than during the same period a year earlier, after generating turnover of €13 million, down by 5% compared to the same period in 2015.

Original story: Expansión (by Rocío Ruiz)

Translation: Carmel Drake

The post Socimi Saint Croix Obtains €11.4M Loan From Banca March appeared first on Aura Real Estate Experts.

Source:: AURA Real Estate Experts

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