SOCIMI
REIT

Advice on the constitution of SOCIMI, as well as on access to securities markets.​

We advise on the constitution of the REIT and later we proactively coordinate the process of listing in a Multilateral Trading System (requirement demanded by Art.4) either in BME Growth, Euronext or Portfolio.

What is a REIT?​

The REITs are listed Public Limited Companies whose main activity is the acquisition, development and rehabilitation of urban assets for lease, either directly or through shares in the capital of other REITs, regulated by the Law 11/2009, of 26 October.

The REIT are the equivalent, in Spain, of the international player of the REIT (Real Estate Investment Trust).

They are characterized by the following aspects:

The minimum share capital of the REIT must be 5 million euros.

They can be established with a single property.

At least 80% of the properties must be dedicated to rental.

The assets can be in Spain or outside of Spain and can be shopping centers, hotels, offices, homes, industrial buildings, commercial premises, others (gas stations, campsites, garages, storage rooms,…).

The assets have to remain in the assets portfolio for at least three years.

They can invest in other REITs and/or REITs.

They can invest inland for the promotion of real estate that will be used for said purpose provided that the promotion begins within the three years following its acquisition.

They must be listed on a regulated market or on a Multilateral Trading System (BME Growth, Euronext, Portfolio…).

At least 80% of your income must come from rentals , and/or dividends from your investments in other REITs or REITs.

They must distribute dividends for

At least 80% of the profits obtained from rental income.

At least 50% of the profits from sales of its assets.

100% of the dividends obtained from other REITs or REITs.

What is your tax regime?

In general 0% Corporate Tax (CT)

95% Discount on ITP, AJD (Residential Acquisition)

SUCCESS STORY: REIT
Caso de estudio de socimi
Logo General de Galerías Comerciales Socimi SA

Enterprise value: 2.054,00M€
Asset value: 2.007,50M€
Code: YGGC
Inc. Date: Julio de 2017
Market: BME Growth
ARMANEXT Services: Coordinador Global y Asesor Registrado

The incorporation into the market has allowed the company to apply the special REIT tax regime, currently being the company with the highest market capitalization in BME Growth (3,600 million €).

Types of promoters for REITs

Tipos de promotores para las SOCIMI

Family and estate groups

REIT promoters

Specialised REIT

International investments

In development REITs

Our advice and solutions for Mid-Cap and REITs

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