The Socimi earned €24.7 million in 2019, compared with €6.2 million in 2018, whereby multiplying its result by almost 300%, according to the accounts published in the Alternative Investment Market (MAB).
In August 2019, the company, in which Deutsche Bank holds a stake, sold an office complex located in Manoteras 48 for €62.8 million. That price is equivalent to an increase of €12 million euros (+ 23.7%) on the valuation of the asset as of December 2018 and an increase of €18.5 million (+ 41%) on the purchase price. The company chose to distribute the cash obtained from the sale operation, equivalent to €41 million, to its shareholders.
