Appraisal and Valuations for SOCIMI
Know the value of the Listed Investment Companies on the Property Market
What is a SOCIMI?
A SOCIMI is a Listed Real Estate Investment Company whose corporate purpose is to hold urban assets for lease and to hold shares or equity interests in other foreign companies or entities with similar or analogous activities (REITs). Euroval offers you professional experts in preparing appraisals for SOCIMI.
Alternative Stock Market
- Shares issued by SOCIMIS ( LAW 11/2009 AND 16/2012).
- Foreign companies whose corporate purpose and investment regime is comparable to that of the SOCIMIs.
- Fully paid-up and freely transferable share capital.
- Annotated representations.
- EEA companies: IFRS or national accounting standard.
- Non-member companies: IFRS or US GAAP.
- Initial information: BUSINESS PLAN
- Designation of REGISTERED ADVISOR.
- Diffusion requirements: A number of shares, owned by shareholders with less than 5% of the share capital, corresponding at least to an estimated market value of 2,000,000 euros or 25% of the shares issued by the Company. (Including shares at the disposal of the liquidity provider.
- Valuation by an independent expert.
Business and Assessment Plan for the incorporation to the MAB
BUSINESS PLAN CONTENT
- Complete description and history of the company, shareholders…
- Description and valuation of real estate assets (location, condition, amortization period).
- Information on the structure and significant trends observed
- Information on forecasts or estimates of future revenues and costs.
- Employees. Total number; categories and geographical distribution.
- Presentation of the main shareholders (participation over 5%).
- Information on related-party transactions.
- Risk factors (highest to lowest, no more than 3)
ECONOMIC ASSESSMENT OF THE COMPANY BY AN INDEPENDENT EXPERT
Periodic service appraisal for SOCIMIs
- Updating and degree of compliance with business forecasts.
- Number of shareholders and list of those with a position greater than or equal to 5% of those known
STUDY OF THE RENTAL MARKET TO DETERMINE MARKET RENTS.
VALUATION OF RELATED-PARTY TRANSACTIONS.
ANALYSIS OF NEW INVESTMENT AREAS:
- Search for empty commercial premises as a new investment.
PREPARATION OF REPORTS ON THE ADMINISTRATIVE, TECHNICAL AND ECONOMIC SITUATION FOR THE ACQUISITION OF THE REAL ESTATE PORTFOLIO.
ADVICE, MANAGEMENT AND CONTROL OF THE ACQUIRED ASSETS.
- Completion and valuation of unfinished assets, both physically and in terms of documentation.
SEARCH FOR PREMISES TO RENT
RENTAL ASSESSMENT APPROACH