The Socimi Gavari Properties has received a favorable report from the Coordination and Incorporation Committee of the Alternative Stock Market (MAB) so that the company enters this market by complying with the required requirements.
With the incorporation of Gavari Properties, there are already three companies that have joined the MAB throughout 2020 (they will be able to present their 2019 accounts until June) despite the difficult circumstances of the Spanish economy, plagued by the coronavirus. Recently they were in favor of relaxing the mandatory payment of dividends in 2020.
The Board of Directors of the company has set a reference value for each of its shares of 23 euros, which supposes a total value of the company of 8.77 million euros.
The company’s trading code will be “YGAV” The company’s registered advisor is VGM Advisory Partners and Sabadell Bank will act as a liquidity provider.
What is Gavari?
Gavari Properties is a socimi oriented to residential rental in high yield areas of Madrid and Malaga through the acquisition of buildings and their subsequent exploitation with a strong vocation aimed at creating value, as it appears on its website.
Currently it is focused on high profitability projects of traditional residential rental together with university coliving. It has 160 homes under management which add up to approximate gross value of 16 million euros. Gross profitability reaches 7-9%.
The project combines advantages for the investor and the tenant, after the rehabilitation of obsolete assets, creating more comfortable and safer places to live that translate into a revaluation of the asset and better income from rental.