The Socimi Silicius will debut on BME Growth on September 23 with a value of 556 million

The Socimi Silicius Real Estate, controlled 29.5% by Merlin Properties, has received a favorable report from BME Growth to debut in this alternative market this Thursday, September 23, with a valuation of 556 million euros. It is the twelfth company that will join this market so far this year and will do so under the trading code ‘YSIL’, with Renta 4 as a registered advisor and liquidity provider, according to BME.

The socimi has a portfolio of 45 real estate assets, 42 of them located in Spain and three located in Luxembourg, London and Amsterdam. Specifically, its portfolio is valued at more than 700 million euros.

Its investment policy is focused on investing in a diversified way in assets of offices, logistics, residential, hotels, parks and shopping centers that are located in ‘prime’ areas of the main cities of Spain, according to reports Europa Press.

As detailed in the information brochure of incorporation to the market, the shopping centers of La Fira (Tarragona), Thader (Murcia) and Bahía Plaza (Cádiz) are within its portfolio, as well as other commercial premises whose tenants are Conforama, Inditex, Cortefiel, La Tagliatella or Mercadona, among others. All real estate assets owned by Silicius, both directly and indirectly through its investee companies, are managed by the family office Mazabi Management.

Results

Silicius achieved a profit of 57 million euros in the first six months of 2021, almost 20 times more than in the same period last year, mainly due to an accounting effect derived from the valuation of its assets. Its gross financial debt is 219.8 million euros.

Among the main risks identified in the information document are that 31.67% of revenues come from only five clients, or that the pandemic continues to affect the business, which only in the period of impact of Covid-19 in 2020 produced a 20% drop in sales compared to previous estimates.