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Cerberus’s Socimi Earned €55,000 to June Despite a 50% Decrease in Turnover

Optimum RE Spain recorded turnover of 556,823 euros during the 6 months to June, compared with 1.3 million euros during the same period in 2019.

Inmueble de Barcelona propiedad de Optimum 1 1024x768 1
One of the Socimi’s residential properties in Barcelona.

The Socimi, which is now controlled by the fund Cerberus, has moved into the black: during the first six months of the year, it obtained profits of 54,986 euros, compared to losses of 1.7 million euros during the same period last year, according to information submitted to BME Growth.

And that, despite a 58.3% drop in revenues, which fell from 1.3 million euros during the six months to June 2019 to 556,823 euros during the first half of this year.

Read the full article in Spanish.

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