Solvento Group from Marbella enter trading in BME Scaleup with a SOCIMI valued at 64.5 million euros
Solvento Group from Marbella enter trading in BME Scaleup (Spanish Stock Market) with a SOCIMI valued at 64.5 million euros
- The SOCIMI marks a key step in the professionalisation of the management, guaranteeing a qualitative leap for future generations.
- Solvento Group become the first operator of tourist apartments, under the brand “AQUA APARTMENTS”.
- The group’s diversified portfolio, which includes said tourist apartments, local shops, garages and storage rooms, backs their rotation strategy and constant acquisition of assets.
- The expansion strategy includes the management of 52 tourist apartments in the Plaza de la Merced, Málaga, strengthening the group’s position in the Costa del Sol.
Madrid, 18 February, 2024.- Solvento Group, a company founded in Marbella with more than six decades of experience in the real-estate sector, and with ownership of the Óbal Urban Hotel and Aqua Apartments, becomes the second family-run group from Marbella to trade in the BME Scaleup with its new entity, Solvento Group 2022 SOCIMI, S.A., valued at 64.5 million euros.
This strategic move consolidates the pioneering position of the family-company, introducing themselves into the market BME Scale Up, designed specifically for companies in their first stages of accelerated growth. Providing benefits such as the elimination of the requirement for shareholding diffusion and flexibility regarding the free-float, BME Scaleup represents an opportunity for a diverse range of entities, from small and medium sized companies to SOCIMIs and family businesses, that want to explore the capital markets for the first time. With 12 registered assessors to date, BME Scaleup is emerging as a vibrant market for businesses searching for growth and recognition in the global economy.
All shares of the Solvento Group´s SOCIMI are distributed between the family members, underlining a unified commitment within the management and handling of the company.
“The creation of this SOCIMI marks an important milestone. We are committed to excellence, transparency, and sustainable growth. We seek to strengthen our position within the market, generate profits for shareholders and contribute to the responsible development of the Costa del Sol and nearby areas, expanding geographically with medium-sized spaces and warehouse facilities ”, states Francisco Giménez Pérez del Pulgar, General Director of the Solvento Group.
The CEO of the company has shared their view on the current situation and of the future of SOCIMIs in Marbella, highlighting the group’s pioneering role within this field. According to the executive, “although Solvento leads the venture into this sector, there exists an increasing interest from other family businesses in the creation of their own SOCIMIs, which predicts a scenario of expansion and diversification. The implementation of a SOCIMI is a process which demands time and effort, especially in the compliance of rigorous ‘due-diligence’ prior to implementation, which seeks to provide a transparent and trustworthy company image to shareholders, clients, suppliers, and the market in general. In terms of growth sectors, SOCIMIs find particularly fruitful opportunities in the real-estate sector, with a particular focus on the management of profitable property assets such as retail and tourist apartments. This niche represents a significant opportunity for its growth and consolidation within the region, allowing an efficient and professional management of assets that contributes to the economic dynamism of Marbella.”
Solvento Group has adopted this strategy as a fundamental component of its professionalisation and expansion plan. The company, which consists of four branches of the Marbellan Parra family, has the objective of capitalising physical profits and improving the company’s transparency and organisation of management, which has been supported by the strategic collaboration with ARMANEXT, who serve as registered assessors within BME Growth and hold the title of the first spanish Listing Sponsor within Euronext.
The company’s real estate portfolio is composed of a total of 297 assets, mainly in Málaga and Marbella, which backs their strategy of rotation and constant acquisition of rental assets. The reference price for the start of the share trading has been fixed at 13 euros per share, based on a valuation report carried out by an independent professional, which means a total valuation of the company at 64.5 million euros. The group’s fundamental company units include tourist apartments, local businesses, garages, storage rooms and development land in Málaga. With a vision of geographical diversification throughout Spain, their recent acquisition of assets in Guipúzcoa demonstrates their commitment to strategic expansion.
The group has drawn up a strategic three year plan, which carefully outlines investments and divestments, with a continued focus on examining operations in order to optimise their portfolio. Prioritising organic growth with solid judgment, the Solvento Group have consolidated their presence in Málaga with the recent purchase of a building of 52 apartments in the Plaza de la Merced, which is proposed to be converted into holiday rentals from 2025, marking their second real-estate asset in the capital.
The establishment of this new entity not only provides physical advantages to the family group, such as an exemption of 25% of corporate tax, but also represents a substantial improvement in the funding conditions. The specific structure of the SOCIMI makes it easier to distribute dividends between existing shareholders, thereby ensuring significant return on investments, following 60 years of expertise and experience in the sector. This initiative represents a crucial qualitative leap for the future generations.
“SOCIMIs are presented as a way of natural evolution for transformation and professionalisation for these family businesses, facilitating the generational transition and promoting a more structured and efficient management. This process not only improves the competitiveness of the involved companies, but also generates a high added-value for the local economy. The growth of this type of company in Marbella and the Costa del Sol contributes significantly to urban development, revitalising the real-estate market and incentivising the modernisation and professionalisation of the sector which, in the long-term, pledges to transform the region’s economic landscape”, Giménez reflects regarding the impact of SOCIMIs on the economic and urban development of the region.
Corporate social responsibility
The Solvento Group’s reaffirmation of commitment to social responsibility and sustainable development reflects a strong dedication towards business practices that go beyond simply financial gain. In this context, the company recognises the importance of creating a work environment that fosters wellbeing and professional growth of their team.
The Initial Access Document for the market of the Solvento Group 2022 SOCIMI is available to view on the BME Scaleup web page (https://www.bolsasymercados.es/MTF_Equity/bme-scaleup/esp/Home.aspx), where you will be able to find all the data relevant to the company and their business.
For more information: prensa@mncomunicacion.com
