Lar España : H1 2024 results: Strong performance amid takeover
>Good Operational Results - Like-for-like rental (“lfl”) growth of +6.6% (Q1: 4.8%) and NOI lfl +7.1% (Q1: +5.2%)It appears that devaluations have stabilized, with the portfolio value showing a marginal decline of -0.7% YTD and -2.5% YOY.Tenants are doing well with retail sales +4.9% YoY (Q1: +7.5%) and footfall +1.5% YoY (Q1: +2.6%)Operating metrics remain strong with 96.0% occupancy (Q1: 96.8%) and 99.1% collection rate (Q1: 98.1%).EPRA LTV 33.4%...Lar Espana Real Estate SOCIMI SA is a Spain-based company primarily engaged in the operation of retail Real Estate Investment Trusts (REITs). The Company specializes in acquiring, managing and renting real estate assets within the Spanish market. Its business activities are divided into three segments: Shopping Centers, Offices, as well as Logistics. The Shopping Centers area is responsible for operation of a number of shopping malls, namely Txingudi, Las Huertas, Albacenter, Anec Blau, Hiper Albacenter, and Nuevo Alisal, among others. The Offices segment invests in office properties, such as Arturo Soria, Cardenal Marcelo Spinola, Egeo and Eloy Gonzalo. The Logistics division focuses on managing logistics warehouses, including Alovera I and Alovera II. The Company also owns a plot for residential properties development. It is a parent of a number of entities, such as Lar Espana Inversion Logistica SA, Gran Via Centrum Holdings SAU, Global Noctua and Puerta Maritima Ondara.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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