Axiare Patrimonio, the first quoted real estate investor in the Iberian Peninsula, becomes the first real estate company in Spain to be regulated by RICS.
The firm announced this week to the press that the decision to regulate the company under the RICS professional and ethical standards provides an additional level of assurance for market confidence, investors and the remainder of its stakeholders.
Axiare Patrimonio’s management team operates under the strictest international professional and ethical standards for the real estate sector. With over 75% of its management team qualified by RICS, the firm has decided to go one step further in its commitment to excellence, transparency and professional integrity, incorporating the international RICS regulatory framework and corporate code of conduct into its management model. It thereby agrees to comply with the requirements set out by RICS in relation to continuing professional development, procedures and guarantees in terms of its portfolio management.
Axiare Patrimonio is the first RICS-regulated real estate company in Spain; this landmark event in our company’s history demonstrates the steadfast commitment of our management team to professional excellence and integrity with regard to the market and our main stakeholders: tenants, collaborators, and especially our investors.
The recovery of the Spanish real estate market is underway, and has undoubtedly been led by real estate investment companies in these initial years. As one of the leading listed companies, Axiare Patrimonio’s decision to become an RICS accredited company is a necessary step forward in the drive to assure market professionalism and trust.
The Spanish company has been listed on the Madrid Stock Exchange as a SOCIMI (acronym for Spanish REIT) since 9 July 2014. Its primary activity is the identification of investment opportunities in the Spanish real estate market and the creation of a prime property portfolio with strong potential value uplift that provides an attractive yield for its shareholders.
Axiare Patrimonio’s investment activity is focused on the acquisition of Grade A office buildings – or that have the potential to be – in the CBD and the most sought after business districts in Madrid and Barcelona; logistics platforms on the main distribution highways and retail schemes in established areas in Spain. Axiare Patrimonio forms part of EPRA (European Public Real Estate Association) and is the first rental property portfolio company to be regulated by RICS in Spain.
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