marlin Real estate closed the first nine months of the year with a record It made a net profit of 225.4 million euros, compared to 12.5 million euros recorded in the same period last year. When the outcome of SOCIMI is affected by the adjustment of asset values in the context of lower rates.
SOCIMI, led by Ismael Clemente, was a success 5% growth in total revenue, Its EBITDA increased by 4.8% to 287.2 million, resulting in an operating profit of 230.5 million (41 euro cents per share), up 6.7%.
Moreover, In October, Merlin signed two related contracts that will generate $500 million in revenue to SOCIMI for their entire duration.
Socimi’s debt level is 27.4%, its liquidity position is 2 billion 522 million, 100% of its debt is fixed interest and the average maturity of the debt is 4.6 years.
In offices, the company continues to grow in terms of comparable revenue (2.5%) and renewal rent (1.7%). ““Occupancy is stable, on a slight rise, with the expectation of exceeding our historical maximum of over 93% by the end of the year,” emphasizes Merlin. Extensive reconstruction of Azca with the agreement signed by all major property owners in the area and the Madrid City Council.
On the other hand, SOCIMI emphasizes that: “Good performance of the logistics portfolio, Another quarter of 3.2% growth in comparable rents, a 4.6% increase in rents on renewals and a 97.9% occupancy rate that will continue to improve towards the end of the year, Merlin signed a term sheet in October. Leasing, turnkey delivery of three logistics warehouses of 134,695 m2 in Lisboa Logistics Park, development when the last warehouse is delivered in 2027. The entire logistics park will be completed and rented.
Likewise, 155,000 m2 of the land portfolio (511,000 m2) has a signed interest letter that will turn into a pre-lease, and 56,000 m2 will turn into a pre-lease.
In the branch shopping malls points to “outstanding operating performance” with growth 2.3% comparable income and on renewals the rent is 5.5%. The effort rate remains at historic lows (11.4%), with visitor numbers increasing by 2.2% and sales remaining at 4.8%, higher than in 2023.
The largest contract signed
In the first phase of the 60 MW data centers, the conversion of a data center to rental Booking with a major AI operator for a 15 MW IT block in Barcelona-Zona Franca (BCN01-PLZF) becomes 100% of maximum design capacity. The impact of the entire building on gross rents will be 23 million in 2025.
“This is, anecdotally, the largest IT lease ever signed in the Iberian Peninsula and to date the only Data Center in Spain and Portugal dedicated entirely to AI,” explains Merlin.
when it comes Data centers II. phase (200 MW), the construction license for BIO02-ARA is expected in the fourth quarter of the year and already has guaranteed power for an additional 94 MW.
I’m impressed with Dana
SOCIMI, on the other hand, “in light of the recent tragic events in Valencia, requested and received the approval of the council to provide a financial assistance package for flood victims. The total amount contributed is 1,000,000 TL. million, approximately 0 per share, It is equivalent to 0018 euros and will be supported by donations from employees”.
