Tuesday, November 24, 2020
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Bankinter and Sonae’s Socimi Resists Covid But Does Not Rule Out Divestments

Olimpo Real Estate has 37 commercial assets in Spain and Portugal valued at 378.3 million euros; the portfolio's value has depreciated by just 1% following the pandemic.

Socimi Olimpo Real Estate (ORES), created and owned by Bankinter and Sonae Sierra, has so far proved resistant to the impact of Covid, despite the fact that its portfolio is made up of commercial assets, one of the segments hardest hit by the Covid crisis.

At the end of the first half of 2020, Ores had a portfolio of 37 first-rate assets valued at 378.3 million euros and with a leverage ratio of 47.1%. This means that its portfolio has depreciated by just 1% compared to the valuation performed at the end of 2019. According to the Socimi, this “demonstrates its strength, even in difficult times like now”.

Read the full article in Spanish.

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